Andersen, 48, kicked for the Atlanta Falcons last season but had knee problems and was unsigned in 2008. He announced in his native Copenhagen, Denmark that he was through with football.
The seven-time Pro Bowler played 13 seasons for the New Orleans Saints, eight for the Falcons, two for the Kansas City Chiefs and one each for the Minnesota Vikings and New York Giants. The Saints drafted Andersen, who left Denmark to play football collegiately at Michigan State, in the fourth round of the 1982 draft.
Andersen became the NFL's all-time leading scorer Dec. 16, 2006, with a field goal for the Falcons in a 38-28 loss to Dallas.
His 2,544 points came over a league-record 382 NFL games. Andersen made 565-of-709 field goal attempts and 849-of-859 extra point tries. The field goal figures are NFL records and the extra point marks are second all-time.
Andersen was a member of both the 1980s and 1990s NFL all-decade teams.