Kidd, who turned 40 in March, was the second-overall choice in the 1994 NBA draft by the Dallas Mavericks. He broke in with the Mavericks and also had spells with Phoenix, New Jersey and Dallas again before his final season with the New York Knicks.
"My time in professional basketball has been an incredible journey but one that must come to an end after 19 years," said Kidd in a statement released by the Knicks. "As I reflect on my time with the four teams I represented in the NBA, I look back fondly at every season and thank each every one of my teammates and coaches that joined me on the court."
Kidd average 12.6 points, 8.7 assists and 6.3 assists in 1,391 career games. In 1995, he and Grant Hill, who announced his retirement last week, shared the NBA Rookie of the Year Award.
Kidd led the NBA in assists five seasons and his total of 12,091 assists is second all-time only to John Stockton. His 2,684 steals is also second -- again to Stockton -- all-time in the NBA.
Kidd signed as a free agent with the Knicks last summer and averaged 6 points, 3.3 assists and 4.3 rebounds over 76 games in helping New York win the Atlantic Division.
"Veteran leadership on and off the court was a huge factor for our team that recorded 54 victories and an Atlantic Division crown," said Knicks Coach Mike Woodson. "Jason provided an incredible voice inside our locker room and I considered it an honor to say I coached him."