Mr Kohler has been a mainstay on TV screens, thanks to his role as the business and economics correspondent for the 7.30 Report and the lead 7pm news finance presenter. While Kohler provided audiences with in-depth analysis, his dry humour quickly became a trademark.
"I love the ABC, always have, even more so after I joined it," he said in a statement on Wednesday.
"I find it very hard to imagine this wonderful place not being part of my life, but I'm 74 and it's time to spend more time with my family, including the six grandchildren."
Kohler, whose "that's finance" sign-off on the 7pm news became tradition, will present his final finance report on December 16.
Treasurer Jim Chalmers led the tributes, telling journalists in Sydney that Mr Kohler's finance reports will be "really missed from ABC and from the TV screens in suburbs right around Australia".
"He's always done a wonderful job, boiling down some of the difficult and complex interactions in our economy.
"I hope and expect that he'll continue to make a contribution to economic commentary in this country ... one way or another and I expect that he will."
Hugh Marks, Managing Director of the ABC, also sang the presenter's praises, saying Mr Kohler "has helped Australians make sense of complex issues with insight, clarity and a uniquely engaging style, always delivered with warmth, humour and that trademark cheeky grin".
"I can't thank Alan enough for everything he has given to the ABC and our audiences."
ABC News director Simon Robinson added that the network will be "tackling the difficult task of selecting his successor on the 7pm bulletin and will make that announcement in coming weeks".
Mr Kohler might be most well known for his contribution to the ABC, but his career has spanned more than half a century.
He began his working life as a cadet journalist at The Australian before going on to become editor at the Australian Financial Review and The Age.
He also founded online platforms Eureka Report and Business Spectator.
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