Best, who formed the Fab Four in 1960 with John Lennon, Paul McCartney and George Harrison, was sacked by manager Brian Epstein and replaced with Ringo Starr in 1962.
Despite plans to perform at the Liverpool Beatles Museum this year, Best's brother Roag says his sibling is hanging up his drumsticks.
"Well what an absolutely wonderful ride we've had. However, everything comes to pass," he wrote on X.
"My brother Pete Best has announced today he is retiring from personal appearances and performing with the group.
"His daughter has informed me it's due to personal circumstances."
Confirming the news, Best shared the post and said: "I had a blast. Thank you."
Best's family owned the Casbah Coffee Club, which was home to The Beatles' first gigs, and is recognised as their "birthplace".
Best's final two shows with The Beatles were at Liverpool's legendary Cavern Club on August 15, 1962. He was let go the next day.
The drummer later moved to the United States where he first formed the Pete Best Combo and the Pete Best Band.
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