The Sweden centre-back made the tearful announcement on Thursday.
Eriksson has been Chelsea captain since 2019 and is looking to lead the team to a third straight Women's Super League-Women's FA Cup double before leaving. They have already won the cup and lead the league by two points with two games left.
"It's been such an amazing journey so I feel I'm not only sad, even though it might look like it," the 29-year-old Eriksson said in a video on Chelsea's Twitter feed.
Just after the announcement of Eriksson's departure, Chelsea also said that 30-year-old Danish striker Pernille Harder would also leave the club after almost three years.