Serena Williams Will Not Participate In Next Year's Australian Open

Serena Williams will not be playing in next month's Australian Open tournament 'cause she isn't physically healthy enough, with the tennis G.O.A.T. explaining she's "not where she needs to be physically."

"Following the advice of my medical team, I have decided to withdraw from this year's Australian Open," Williams said in a statement.

"While this is never an easy decision to make, I am not where I need to be physically to compete," Williams said.

"Melbourne is one of my favorite cities to visit and I look forward to playing at the AO every year. I will miss seeing the fans, but am excited to return and compete at my highest level."

FYI, the Australian Open -- one of the sports 4 major tourneys -- goes down in late January in Melbourne Park. Serena has won the tournament 7 times.

The Australian Open tweeted out support for the tennis legend, writing ... "All our love, @serenawilliams. Come back stronger 💪 #AusOpen."

This latest announcement from Serena comes just months after she withdrew from the U.S. Open ... so she could nurse a hamstring injury she sustained at Wimbledon.

Williams -- who holds more grand slam titles (23) than any other active player -- needs one more victory to tie Margaret Court's record (24) ... and two more to pass her.