The two-time overall champion had microfracture surgery nearly a year ago and has been taking a cautious approach to recovery, not wanting any sort of setback with the Sochi Games just a year away.
And while the 35-year-old has missed some races, he hasn't sat out a full season since his debut in 1997.
Miller called the decision "tough," but "easy for me when I look at my opportunity next year."
This has been a big year for Miller off the slopes. He married pro volleyball player Morgan Miller on Oct. 7, and the couple is expecting their first child. Miller has a 4-year-old daughter from a previous relationship.