The Scott had sustained spinal injuries, concussion, and fractures to his ankle after his car flew into the catch fencing in the accident last month.
“Since my racing accident in Houston, I have been in the expert care of some of the leading doctors and nurses, all of whom have made my health, my safety and my recovery their top priority,” said Franchtti in a press release.
“I am eternally grateful for the medical care I have received over the last several weeks. I'd also like to thank my family and friends for their unbelievable support.
“One month removed from the crash and based upon the expert advice of the doctors who have treated and assessed my head and spinal injuries post-accident, it is their best medical opinion that I must stop racing. They have made it very clear that the risks involved in further racing are too great and could be detrimental to my long term well-being. Based on this medical advice, I have no choice but to stop,” Franchitti explained.
The Ganassi driver said that he was exploring ways to remain involved with the sport in the future.
Some statistics of Dario Franchitti:
IndyCar champion: 2007/09-11
Indianapolis 500 winner: 2007/10/12
Combined IndyCar/CART Champ Car stats:
Fastest laps: 23