Hua Nam Restaurant, a 49-year-old dim sum eatery, will close at the end of the month.
The third-generation owners told Shin Min Daily News that they will be retiring.
The family-run restaurant in Upper Thomson Road has remained unchanged for more than 30 years.
Founded by Mr Siew Hoy Yean, it started as a roadside stall in the 1950s. The restaurant is known for its old-school fare and atmosphere.
Current owner Sam Siew, 54, told the Chinese evening daily the restaurant could sell more than 1,000 steamers of dim sum a day in its heyday.
Business has suffered as it faces more competition from other food and beverage outlets.
The Thomson Line construction works in the area have also affected business, he said.
His siblings are in their 60s and he could not find a suitable successor, he added.