Hazard has played top-level football for the last 16 years, having lined up for some of Europe’s elite clubs in that period.
"A special thank you to my family, my friends, my advisors and the people who have been close to me in good times and bad,” he said in a statement.
“Finally, a huge thank you to you, my fans, who have followed me for all these years and for your encouragement everywhere I have played. Now is the time to enjoy my loved ones and have new experiences. See you off the field soon my friends."
The Belgian started his career at hometown club Royal Stade Brainois, where he played until he was 13, before crossing over to AFC Tubize.
He then moved to French side Lille and spent two years at the club’s junior side before finally being promoted to the main team in 2007.
Hazard was part of the Lille side that won Ligue 1 in the 2010/11 season and later joined Chelsea, where he won two Premier League titles, the FA Cup and two Europa League crowns.
The winger swapped Stamford Bridge for Real Madrid in the summer of 2019, but was consistently blighted by injuries throughout his time in Spain.
Despite his limited game time, however, he won everything with the Spanish giants, including the UEFA Champions League, before parting ways with the Blancos at the end of the 2022/23 season.
In announcing his retirement, Hazard said he had to listen to his body and he looked forward to enjoying the rest of his life with his loved ones.
“You must listen to yourself and say stop at the right time. After 16 years and more than 700 matches played, I have decided to end my career as a professional footballer. I was able to realise my dream, I have played and had fun on many pitches around the world.
"During my career I was lucky to meet great managers, coaches and teammates - thank you to everyone for these great times, I will miss you all. I also want to thank the clubs I have played for: LOSC, Chelsea and Real Madrid; and thank the RBFA for my Belgian Selection,” Hazard added in his statement.
For Belgium, Hazard played 126 matches and scored 33 goals. He also captained his country to several tournaments, with the most notable being the country’s third-place finish at the 2018 World Cup in Russia.