Niedermayer, 36, spent the past five seasons with the Anaheim Ducks, winning a Stanley Cup in 2007, after 12-plus years with New Jersey where he played on three Cup winners.
Niedermayer is a six-time all-star and won the Norris Trophy as the league's best defenseman in 2004 and the Conn Smythe Trophy as playoff MVP in 2007. He also won an Olympic gold medal with Canada at the 2002 Winter Games.
"It's been a tough decision, but after plenty of reflection I'm here to announce my retirement from hockey," Niedermayer said at Anaheim's Honda Center. "It's been more than I ever could have asked for. I've been very lucky ... . I'm excited about the future."
This past season, he played in 80 games, notching 10 goals and 38 assists.
In 1,263 regular-season games, Niedermayer tallied 172 goals and 568 assists. In 202 playoff games, he added 25 goals and 73 assists.