Cole last played for Derby County under former Chelsea and England teammate Frank Lampard in the second half of the 2018/2019 season, and helped the Rams to the Championship play-off final where they were beaten by Aston Villa.
Cole began his career at Arsenal, winning two Premier League titles and three FA Cup at the Gunners before controversially switching to Chelsea in the summer of 2006.
His time at the Blues was equally successful, as his eight-year spell at the club earned him one Premier League title, four FA Cups, one UEFA Champions League and one Europa League.
Announcing his decision on Sky Sports, Cole said: "After hard consideration, it's time to hang my boots up and look towards my next chapter, which will hopefully be coaching."
"I'm doing the course at the moment. Now I want to be great at being a coach.
"As a young kid, I never expected to play one game or to be a professional. So, to be looking back now and to be able to say I played in World Cups and Champions League finals, being lucky enough to lift Premier League titles... it's a young kid's dream. I've fulfilled my dream."
With 107 England caps to his name, Cole is one of only nine players to have made more than 100 appearances for the Three Lions, but his failure to replicate his trophy-laden club career at international level has left a bitter taste in the former AS Roma defender’s mouth.
Asked about what made him most proud, Cole said: "The England caps. I probably didn't grasp it as much as I should. I look back now and I've played for my country not just once but over 100 times.
"I'm proud of that and it's just a little bit disappointing I didn't get to a final or even a semi-final with England. It's a little bit disappointing."
