Helton has been sidelined since Aug. 10, after having surgery for a torn labrum in his right hip. He battled the injury all season, hitting just .238/.343/.400 in 240 at-bats in 2012.
He has one more year left on his contract, worth $5 million, and told the Denver Post he'd have to have "ample days off" if he was to gear up to play next season.
The Rockies are facing the possibility of losing more games than any other team in Rockies history. Standing at 59 wins heading into Tuesday's game against Chicago, the Rockies would reach 100 losses for the first time in franchise history by dropping six of their final nine games.
Helton is a career .320/.419/.545 hitter with 345 home runs over his 16 seasons - all with the Rockies.