Prince William has decided to finally leave his armed forces duties after more than seven and a half years of military service, and focus on charity work instead, CNN reported Thursday.

According to ABC News, Prince William has already completed his duties as search and rescue pilot to the Royal Air Force and is now leaving the armed forces to spend more time with his wife, Kate Middleton, and son, Prince George, while taking on a more important role of attending to royal engagements and charity roles.

The second-in-line to the British throne along with his wife will move into their own residence at Kensington Palace, and Prince William is already contemplation on a "number of options" for public service, a palace statement said.

Sources said that the 31-year-old prince is in his "transitional" year and that this move is simply a mark of the end of another phase in William's life, where he became a big help for mountaineers in distress as well as to the mariners in the Irish Sea.

Air Chief Marshal Andrew Pulford said the Prince had been a very important part of the Royal Air Force search and rescue force for the past three years.

"Throughout his tour his airmanship, often in the most demanding of conditions, has contributed directly to saving lives in the mountains of North Wales and from the ravages of the Irish Sea," Pulford said. "He has earned the respect of all who have worked with him as a highly professional and competent pilot."

A statement from Kensington Palace said, "He will continue to support the work of the Queen and the Royal Family through a programme of official engagements, both at home and overseas, with the Duchess of Cambridge. The Duke will work closely over the next 12 months with the Royal Foundation of The Duke and Duchess of Cambridge and Prince Harry. He will expand his work in the field of conservation, particularly in respect of endangered species."

As part of his new endeavor on wildlife protection, Prince William teamed up with sports stars David Beckham and Yao Ming on Thursday to record public service announcements aimed at reducing the demand for rhino horn and ivory.

Meanwhile, Prince Harry, William's younger brother, will continue to be active in the military. He has served in Afghanistan as an Apache helicopter pilot with captain as his army rank.