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Queensland Reds and Wallabies prop Greg Holmes will bow out of Australian rugby at the end of next season with the front-rower set to take up a two-year deal with English club Exeter.

Holmes will re-join the Reds early next year for what will be his final pre-season, the veteran front-rower having enjoyed some well-deserved vacation time following the Wallabies' run to the Rugby World Cup final.

Thirty-two-year-old Holmes had been in the Test wilderness for seven years but earned a recall under Michael Cheika last year - his strong Super Rugby form bringing about a second-coming at international level that yielded 11 Tests in 2015.

But having made his Super Rugby debut way back in 2005, Holmes said it was time for a change of scenery.

"I have a lot of great memories from my past 11 seasons with Queensland. I remember my first match against the Blues in Auckland back in 2005, it was a pretty rude awakening to Super Rugby but it's something I'll never forget." Holmes said.

"I've experienced both good and bad times with the Reds, winning a Super Rugby title while also finishing with the wooden spoon, I've seen both ends of the spectrum but I've loved every minute of it.

"It's sad to go but I feel that it is my time. I was brought up here at Ballymore, it's been my home for my whole career and I love this place.

"I've still got one year to go with the Reds and being my last year in Queensland it's going to be tough emotionally, especially when the time comes to wear the jersey for the last time, but I've had a special time as part of the Reds and I'm looking forward to making the most of the 2016 season."

Queensland Reds Executive General Manager Daniel Herbert paid tribute to Holmes' decade of service at Ballymore.

"Greg has been one of the Reds' unsung heroes over the last decade and holds a special place within Queensland Rugby," he said.

"He has helped inspire a new generation of Rugby fans this year as part of the Wallabies side that reached the Rugby World Cup final. His test recall at the age of 32 is testament to his work ethic. "I'm sure our players and fans will ensure that Greg's last season with the Reds is one we will all remember in years to come.

"We wish him well with his move to the Exeter Chiefs."