The announcement was made in a joint statement posted to the star’s family’s social media accounts.
The statement said Willis has been experiencing “health issues” and had been diagnosed with aphasia, “which was impacting his cognitive abilities.
“As a result of this and with much consideration, Bruce is stepping away from the career that has meant so much to him,” the statement said.
“This is a really challenging time for our family, and we are so appreciative of your continued love, compassion and support. We are moving through this as a strong family unit, and wanted to bring his fans in because we know how much he means to you, as you do to him.
“As Bruce always says, “Live it up” and together we plan to do just that.”
Aphasia is a disorder that results from damage to the areas of the brain that are responsible for language, The Australian Aphasia Association explains on its website.
“People with aphasia may have difficulty with: talking, listening (understanding what others say), reading, writing, using numbers, using gestures,” it says.
Willis is best known for his work in the Die Hard series, while his total filmography has grossed more that US$5 billion, making his one of the highest-grossing across of all time.