The 43-year-old hangs up his saddle after an amazing career – and some terrible injuries.
The latest saw him come back from having bolts drilled in his head after breaking his neck.
Russell was given just a ten per cent chance of ever walking again after smashing into the turf in October 2020.
But he fought back, just being denied what would have turned out to be a fairytale Cheltenham Festival goodbye back in March when Delta Work pipped Tiger Roll at the death in the Cross Country.
Liberty Dance's owner Tim O'Driscoll summed up the opinion of many when, speaking after his horse's win, he said: "He's a genius."
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Frankie Dettori, 52, announces shock retirement at the end of 2023
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Russell's retirement comes a day after Flat icon Frankie Dettori announced next season will be his last.
Given his age and the dangers inherent in jump racing, Russell had hinted recently the curtain may be coming down on his career.
But it is unusual for a jockey to call it quits mid-season, especially with so many big races still to come.
Russell has found himself supplanted as Gordon Elliott's No1 rider by Jack Kennedy.
It means his 2020 win on Chosen Mate in the Grand Annual will go down as his final Festival triumph.
He rode 22 winners at the March meet in all, including the 2014 Gold Cup on Lord Windermere.
That was the same year Tiger Roll won the Triumph – the start of an incredible partnership between the pair.