The 38-year-old popular English star, who has played for Manchester United, Real Madrid, AC Milan and Los Angeles Galaxy, called it quits after two decades at the top of the game as he turned down the offer of an extended one-year deal at his current club Paris Saint-Germain (PSG).
"I'm thankful to PSG for giving me the opportunity to continue but I feel now is the right time to finish my career, playing at the highest level," he said.
Beckham holds the England record for making 115 appearances as an outfield player for the national team and is the only English player to win championships in four countries.
Currently based in the US, he is expected to return to London with his wife Victoria and children, Brooklyn, Romeo, Cruz and Harper.
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Beckham added in a statement: "I wouldn't have achieved what I have done today without my family. I'm grateful for my parents' sacrifice, which made me realise my dreams.
"I owe everything to Victoria and the kids, who have given me the inspiration and support to play at the highest level for such a long period.
"I want to thank all my team-mates, the great managers that I had the pleasure of learning from. I also want to thank the fans who have all supported me and given me the strength to succeed.