"I would like to thank everyone for their support and look forward to coming back stronger next year," said Bolt, who will aim for more medals at the 2011 World Championships in Daegu.
Bolt was examined on Monday by a Munich doctor who found a problem with the 100m and 200m world record holder's lower back.
But Bolt's agent Ricky Simms said his client was taking a long-term view on the injury.
"With a view to his future career we believe further treatment to loosen his back followed by rest will be in his best interest," said Simms in a statement.
"He has a tightness that restricts his ability to generate power in his stride and continuing to race in this condition could risk injury to his hamstrings or calf muscles."
Bolt reflects on losing to rival Tyson Gay
Bolt had been scheduled to face Tyson Gay and Asafa Powell - bringing together the three fastest 100m runners in history - at this year's final Diamond League meeting in Brussels on 27 August.
Bolt has been struggling with an Achilles tendon injury and looked far from fit as he stuttered behind Gay in the 100m in Sweden, with the American cruising to victory in 9.84 seconds - just 0.02 slower than the season's fastest time.
"You can get beat any day," said Bolt after the race.
"I still need to work on my strength. The first 10 metres was rubbish. I had no power, no nothing. I have tried to work on it but it didn't work out."
Despite Bolt's ongoing back issues, Simms had some positive news regarding his client's previous Achilles tendon problem by adding that a scan had showed that the injury had "completely healed".
Bolt's only other defeat in the 100m came at the same Stockholm Olympic track in 2008 when Jamaican compatriot Powell - who is also now struggling with a back complaint - took victory.
Since that reversal, Bolt enjoyed 14 successive wins, including the last time he clashed with Gay at the Berlin World Championships last year.
He has also clocked the season's joint fastest time in the 100m (9.82 in Lausanne) and fastest in the 200m (19.56 in Kingston).
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