Carter announced his retirement Tuesday after 15 NFL seasons and has accepted a position with HBO Sports, where he will serve as a co-host of the "Inside the NFL" show.
Carter caught 73 passes for 871 yards and six touchdowns last season, his 12th with the Vikings. The 36-year-old Carter is third all time in receiving yards with 13,833 and second in receiving touchdowns with 129.
"I have always wanted to make a transition to broadcasting after my playing career was over, and HBO has given me the opportunity to do so," said Carter.
Carter and Jerry Rice are the only two NFL players with 1,000 career receptions.
An unrestricted free agent, Carter expressed interest in continuing his NFL career only if he was able to sign with a contending team. The Vikings are in a rebuilding stage after finishing 5-11 last season.
The St. Louis Rams appeared to be the frontrunner for Carter, but salary cap restrictions prevented them from making a lucrative offer.
A native of Troy, Ohio, Carter was a collegiate star at Ohio State before being selected in the fourth round of the 1987 supplemental draft by Philadelphia. He spent three seasons with the Eagles before being claimed off waivers by the Vikings in 1990.
Carter made eight straight trips to the Pro Bowl from 1993 to 2000 and had 44 100-yard receiving games in his career, 42 of which came with Minnesota. He holds nearly every Vikings receiving record, including 110 total touchdowns.