Parker enjoyed memorable spells with Charlton, Chelsea, Newcastle, West Ham and Tottenham before finishing his career in the Championship with Fulham.
The talented midfielder first attracted the headlines as a 13-year-old when he appeared in a McDonald’s advert ahead of the 1994 World Cup.
Parker made his debut aged just 17 for Charlton and went on to become one of the best players under Alan Curbishley during his eight-year spell at the Valley.
He secured a £10million move to Chelsea but failed to secure a regular first-team place and signed for Newcastle two-years later.
Parker managed to get his career back on track with the north east club before West Ham secured his signature for £7m in 2007.
The tough tackling midfielder produced his best form for the Hammers and was named FWA Player of the Year and forced his way into the England squad where he was named England’s Player of the Year for his performances at Euro 2012.
Parker signed for Tottenham in 2011, before making the final move of his career when he signed for Fulham in 2013.
Parker played three more seasons in the Championship before announcing his retirement and is now expected to make his way into management.
Parker released a statement saying: “The decision to retire has not been an easy one for me but having thought long and hard over it, and having discussed it with those closest to me, I believe that now is the right time to move on to the next chapter in my life and career.
“When I started my career at Charlton Athletic all those years ago I could only have dreamt at that time just what was to follow over the next two decades.
“I feel incredibly honoured and proud to have enjoyed the career that I have and I’ve loved every moment of it.
“When I was a boy I dreamt of becoming a professional football player and I feel very honoured to have accomplished my dream.
“I have always tried to set high standards on and off the pitch. I hope most of all throughout my career I have been a good role model not only to my sons but also to all of my teammates who played with me as well as all those who supported me.
“I’m now looking forward to the next chapter of my life and career and hope to make an announcement soon with regards to what that will be.”