SAN JUAN, Puerto Rico -- Felix "Tito" Trinidad is retiring from boxing, much to the delight of the former middleweight and welterweight champion's family.

According to the Web site secondsout.com, promoter Don King has scheduled a teleconference for Wednesday to make the announcement. King was not in his office Wednesday morning to comment on the report.

Trinidad couldn't be reached for comment and wasn't expected to be on the conference call.

"Tito has finished his career healthy, with a brilliant record, and thanks to God with an economic future that guarantees peace for him and his family for the rest of his life," said his father, Felix Trinidad Rodriguez who also serves as Trinidad's trainer and manager.

Trinidad Rodriguez told The Associated Press that he and his son made the decision Tuesday after speaking with King. He informed the family that there was little chance of a rematch with Bernard Hopkins, who gave Trinidad his only professional loss.

Trinidad, 29, was 41-1 with 34 knockouts in three weight classes and took part in 21 title fights. He is considered by many as the best Puerto Rican boxer. Trinidad began his professional career in 1990, when he was 17, after a short amateur career of 57 fights.

"I'm happy with the decision," Trinidad's mother, Irma Garcia, told the television network Univision. "I always told him, 'You have to get out one day so you don't take a bad hit.' "

Trinidad won his last fight against France's Hacine Cherifi in May. He suffered his only defeat in the previous fight against Hopkins, which also cost him his middleweight title. Hopkins knocked him out in the 12th round.

After Trinidad beat Cherifi, Hopkins refused his requests for a rematch, as did Oscar de la Hoya, who lost a previous bout to Trinidad.

"The only fights remaining would not add anything to his career, but would cause great risk to his health," his lawyer Nicolas Medina said.

On July 19, 1993, Trinidad won his first championship -- the IBF welterweight crown -- when he knocked out Maurice Blocker in the second round. He defended that title 15 times.

Trinidad beat the previously undefeated De la Hoya in September 1999, adding the title of WBC welterweight championship.

A year later, he gained weight and beat promising Americans David Reid and Fernando Vargas in super welterweight bouts.

In 2001, Trinidad moved to the middleweight division and beat William Joppy, which paved the way for his unification fight against Hopkins.

Information from The Associated Press and SportsTicker was used in this report.