His decision comes days after the 38-year-old won his latest title with French club Paris Saint-Germain.
Beckham, who won the Champions League with Manchester United in 1999, also won league titles with Real Madrid, AC Milan and Los Angeles Galaxy before arriving in the French capital earlier this year after signing a short-term contract.
The midfielder won 115 caps for England and is married to former Spice Girl and fashion designer, Victoria, He is estimated to be the country’s wealthiest sportsman, earning in excess of $46 million a year, according to France Football magazine.
“If you had told me as a young boy I would have played for and won trophies with my boyhood club Manchester United, proudly captained and played for my country over one hundred times and lined up for some of the biggest clubs in the world, I would have told you it was a fantasy,” said Beckham in a statement.
“I’m fortunate to have realized those dreams.”
Despite the glittering career with some of the world’s top clubs, Beckham singled out captaining his country as one of his “proudest achievements.”
“I knew every time I wore the Three Lions shirt, I was not only following in a long line of great players, I was also representing every fan that cared passionately about their country.
“I’m honoured to represent England both on and off the pitch. 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.”
Beckham had the chance to join PSG in January 2012, but opted to stay in the U.S., ending his American mission with his second MLS Cup title before announcing that he would not fulfill the second year of his contract extension.
Champions PSG’s last two games are against Brest at the Parc des Princes in the French capital on Saturday and at Lorient next Sunday.