Aluko left Juventus in December and was tipped with a return to England after nearly 18 months with the Serie A champions.
The Englishwoman won three Women Super League titles and five FA Cups during her time with Charlton, Birmingham City and Chelsea.
The prolific forward is considered as one of the best players in her generation, having scored 33 goals in 102 caps for England, featuring in three world cups, two European championships and a memorable 2012 Olympics, where she represented Great Britain.
Aluko penned a ‘thank you letter’ to football for what it had given her since the beginning of her distinguished career in The Player Tribune.
"You have given me the dream of playing in the US, the pride of representing England, the thrill of winning titles with Chelsea, the adventure of playing for Juventus in Italy," she said.
"Whenever I have faced obstacles, you have shattered them. Whenever I have had great expectations, you have exceeded them."
Aluko, whose younger brother Sone plays for Reading, also added she was "content with her career" and hinted that she would remain involved in the game.
"There are a few things I did not achieve, but I know I can't have it all," said Aluko.
"I took the hardest option every time, and I think I have been rewarded for it."
"I honestly believe women's football will continue to hit an even higher level in the next few years. I want to do my part to make sure that happens."