The 41-year-old, who represented Brazil at two FIFA World Cups, has captained Palmeiras since December 2014 and hopes to guide them to the Copa Libertadores title before hanging up his boots.
He told palmeiras.com.br: "It will certainly be my last year because I want to have more time with my family. I decided to play on for another year because the Libertadores was a big challenge for me."
Ze Roberto won the Primera Division title with Madrid in 1997 and was a Bundesliga champion with Bayern four times during his six-season stay in Munich.
