The 61-year-old Alexander will leave June 30, calling it quits after two national championships (1993, 2001) and eight Southeastern Conference titles.
Alexander says "coaching is a young man's game and it is simply time for me to turn the reins over to someone else."
Since arriving at Florida in 1988, Alexander has coached an NCAA individual champion, a U.S. Amateur champion, 57 All-Americans, 10 SEC individual champions and a Ben Hogan Award winner. He coached 31 members of the PGA Tour, including winners Billy Horschel, Matt Every, Chris DiMarco, Dudley Hart and Camilo Villegas.
Florida athletic director Jeremy Foley calls Alexander "one of the all-time greats. He's had a heck of a run."