The Mexican racer's future has been the subject of speculation, with rumours that Red Bull planned to replace him before his contract expires after the 2025 F1 season.
"These past six months I did think about it, but it took me three seconds to make the decision," Perez told DAZN about walking away.
"In the end, it would be the easy route, after so many years to quit and kind of give up. I would never have forgiven myself for that.
"I want to finish my career when I want and not when someone tells me. That's my main focus: to get to the point where I can decide my future."
Perez is winless on the F1 circuit this season. He has 14 top-10 showings, including three runner-up finishes, and ranks eighth in the current standings. Red Bull teammate Max Verstappen leads the table as he chases his fourth straight world championship.
Perez has six Grand Prix victories and 39 podium finishes in his career but wants more.
"For now, I am very motivated, to be honest, I really want to continue in F1," Perez said. "I enjoy it. Especially the good times you really enjoy, but you also learn to enjoy the bad ones."
Perez said he doesn't plan to race into his 40s, like 43-year-old Fernando Alonso of Spain. Perez said he wants to spend more time with his small children as they grow up.
He said he "will be here for at least two more years. However, I don't see myself in Formula 1 for much longer."