"I've thoroughly enjoyed this past year," Simic said in a news release. "The best part of being poet laureate of the United States is working with the fine, dedicated and learned people at the Library (of Congress)."
Simic, poet laureate since August 2007, will give a lecture on "The Difficult Art of Translation" May 8 in Washington.
Most laureates serve one or two years. Simic said he didn't want to be considered for a second year because he wanted to spend more time writing poetry.
Simic won the Pulitzer Prize for Poetry in 1990 for his book of prose poems "The World Doesn't End." His more recent volumes of poetry include "That Little Something: Poems," "My Noiseless Entourage" and "The Voice at 3:00 A.M."
"We are very sorry to say farewell to Charlie Simic, but deeply appreciate his service to the library and the nation," Librarian of Congress James H. Billington said.