The Irishman was handed his PGA Tour membership in 2015 after he won the WGC-Bridgestone Invitational.
However, he has struggled in recent years and Lowry has only registered one top-10 finish in 2017.
The 30-year-old was ranked 18th in the world two years ago and he now plans to rent a house in Florida and focus on one Tour for the time being.
He told reporters: "Playing both tours has been very hard on me these last few years and I feel like that has been my downfall to be honest.
"It has been too hard for me. It has been too hard to keep my world ranking and you end up not being in all the big tournaments.
"My main goal between now and December is to get back into the top 50 and to do that I am going to have to play in Europe for most of the rest of the year.
"I am going to concentrate full time on the PGA Tour next year and see what happens."