The Holy Prophet (pbuh) said, “The tribe of Israel was guided by prophets. When a prophet passed away, another prophet succeeded him. But no prophet will come after me; only caliphs will succeed me.”
(Ref: Sahih Bukhari, Kitabe‘ Manaqeb)

The Holy Prophet (pbuh) said, “My position in relation to the prophets who came before me can be explained by the following example: A man erected a building and adorned this edifice with great beauty, but he left an empty niche, in the corner where just one brick was missing. People looked around the building and marveled at its beauty, but wondered why a brick was missing from that niche? I am like unto that one missing brick and I am the last in the line of the Prophets.”
(Ref: Bukhari – Kitabe’ Manaqeb, Muslim,Tirmidhi, Musnad Ahmad, Tirmizi, Babu Khatimin-Nabiyyin, Musnad Abu Dawud Tayalisi)

In one narration, there is an addition of the sentence – “The chain of prophethood has been terminated upon me.”

This means that by the advent of Holy Prophet (pbuh), the edifice of guidance has been completed and perfected and there is no place / need for another prophet.

A similar tradition is also narrated in Sahih Tirmizi – Kitabe’ Manaqeb, chapter of Fazle’ Nabi and Kitabe’ Adab al Ittesaal)

Sunane’ Abu Dawood has narrated this tradition from Jabir Ibne Abdullah Ansari. The tradition concludes with the following words – “The chain of prophethood has been completed through my person.” The same tradition is also narrated in Musnad Ahmed Ibne Hambal through Ubay Ibn Kaab, Hazrat Abu Saeed Khudri and Abu Hurayrah.

The Holy Prophet (saw) said, “Allah has bestowed upon me six favors which the former Prophets did not enjoy:
1. I have been endowed with the gift of perfect speech.
2. I was granted victory owing to my awe.
3. The spoils of war were made lawful unto me.
4. The whole earth has been made the place of worship for me and it has become the means of purification for me also. In other words, in my religion, offering of prayers is not confined to certain specified places of worship. Prayers can be offered at any place over the earth. And in case water is not available, it is lawful for my people to perform ablutions with earth (Tayammum) and to cleanse themselves with the soil if water for bathing is scarce.
5. I have been sent by Allah to carry His Divine message to the entire world.
6. And the line of prophets has ended in me.”
(Muslim, Tirmidhi, Ibn Majah)

The Holy Prophet (pbuh) said, “The chain of prophethood and messengership has been terminated in me. Now there will not be any new prophet or messenger.”
(Tirmizi, Musnad Ahmed Ibne Hambal)

The Holy Prophet (pbuh) said, “I am Muhammad, I am Ahmad, I am the effacer and infidelity shall be erased through me; I am the assembler. People shall be assembled on Doomsday after my time. And I am the last in the sense that no prophet shall succeed me.”
(Bukhari, Muslim – Kitabe’ Fazael Bab Ismae’ Nabi, Tirmidhi – Kitabul Adab, Babe’ Asmae’ Nabi, Mustadrak – Kitabe’ Tarikh, Babe’ Asmae’ Nabi)

This tradition also implies that there is no scope for any prophet or messenger till the Day of Judgement.

The Holy Prophet (pbuh) said, Allah has sent unto the world no apostle who did not warn his people about the appearance of Dajjal (Anti-Christ, but Dajjal did not appear in their time). I am the last in the line of Prophets and you are the last community of believers. Without doubt, then, Dajjal shall appear from amongst you.”
(Ibn Majah, Kitabul Fitan – Babe’Dajjjal)

Abdur Rahman Ibne Jubayr said, I heard from Abdullah Ibne Umar Ibne Aas that one day the Holy Prophet (pbuh) stepped out of his house and was sitting with us. He said, “I am Mohammed, the unlettered prophet. He repeated this thrice. Then he said, there will be no prophet after me”
(Musnad Ahmed Ibne Hambal)

Soubaan narrates that the Holy Prophet (pbuh) said, “There will arise thirty impostors in my Ummah and each one of them will pronounce to the world that he is a prophet, but I am the last in the line of the Prophets of God and no Prophet will come after me.”
(Abu Dawood – Kitabul Fitan, Tirmizi)

In this way, there are several traditions narrated by the companions of the Holy Prophet (pbuh) and these traditions are with successive chains and through several narrators. In the same way, through the ages, traditionalists and authors have brought these traditions in their books. A study of these traditions shows us that at different times, occasions, words and ways, the Holy Prophet (pbuh) made it amply clear that there is no prophet after him. And that the chain of prophethood has been terminated upon him. In addition to this, he (pbuh) warned his community that if any person claimed prophethood after him, then that person is a liar and a fraud and one should therefore avoid him.

The explanation of the Quranic words “Khatamun Nabiyyeen” has been done beautifully by the Holy Prophet (pbuh) and no person can do this better than him as he is the interpreter of the Quran and religion for us. More importantly these are the words of the prophet and no other word or speech can carry more weight than his (pbuh) words. The Quran has been revealed upon the Holy Prophet (pbuh) and he is the one who is authorized to narrated its interpretation. Then if some Irani or Indian comes after one thousand years to tell us about a new interpretation of this verse, we have no option but to ignore it or to raise our voices against this “new” interpretation.