O'Driscoll had been tipped to retire from the game following this summer's British & Irish Lions tour of Australia but instead signed a 12-month extension to his deal with the Irish Rugby Football Union and Leinster.
That has led to speculation the 34-year-old, who was replaced as captain of his country before this year's RBS 6 Nations, could be tempted to continue through to the World Cup in England.
However the Leinster centre insists he will be hanging his boots up for good this time next summer.
"I really am not ready for a year of speculation. It is going to be just the one," he told The Irish Times.
"I know with my wife, I did agree to do just one more. I did say as well when I was talking about a World Cup, that means three pre-seasons. I don't have another three pre-seasons in me.
"There were lots of different factors in who was going to come in as national coach and then who was going to come in at provincial level. From a family situation then in terms of what my wife's set-up was, we've a new baby girl. And also how my body was. All of those factors come into things.
"So it was about weighing up all those options and wondering was I ready to give it up, knowing that I wouldn't be playing anymore and you're a long time retired. I just felt that I still had plenty to give to be able to allow myself one more year."