The 38-year-old Lampard made the announcement on Facebook on Thursday, saying he turned down "a number of exciting offers to continue playing at home and abroad ... to begin the next chapter in my life."
"After 21 incredible years I have decided that now is the right time to finish my career as a professional footballer," Lampard, Chelsea's record goalscorer, wrote on Facebook.
"I'm immensely proud of the trophies I've won, of representing my country over 100 times and of scoring more than 300 career goals."
Lampard made 106 appearances for England's national team and scored a club-record 211 goals for Chelsea from 2001-14. He also played for West Ham and Manchester City before moving to New York City FC for the final 18 months of his career.
Lampard had a 21-year professional career and said "the largest part of my heart belongs to Chelsea," where he won every major club honor.
"Of course, the largest part of my heart belongs to Chelsea Football Club, a club which has given me so many great memories," Lampard wrote.
First Published: 02 Feb 2017 06:31 PM