Berbatov has been without a club ever since he left Indian side Kerala Blasters in 2018.
The 38-year-old played for some of the top clubs in Europe including Manchester United, Tottenham Hotspurs, Bayer Leverkusen, AS Monaco and Fulham.
A natural goalscorer, Berbatov scored 94 Premier League goals in 224 appearances for the three clubs he represented in England’s top flight, and his 20 league goals in the 2010/2011 season whiles at Manchester United was enough to earn him the Golden Boot award.
In a post on his Instagram account, Berbatov said: "My last game was more than one year ago, so I think it's the right time now to stop and it's long overdue!
"Although when I think about it, it's never The End, because I will stay in the game in one way or another, the time has come to say that after almost 20 years playing football I am stopping with my professional ACTIVE football career!
"I will miss it! I will f***ing miss it! Everything! The games, trainings, the goals, preparations, the pressure, my teammates…the roar of the fans when I scored another banger.
"I was blessed and work hard to have the opportunity to play with one of the best ever and against some of the best ever! And coming from small country this makes it even more special for me!"
Berbatov won two Premier League titles at Manchester United, but he also suffered heartbreak in three UEFA Champions League finals; once with Bayer Leverkusen in 2002 and twice with the Red Devils in 2009 and 2011.
"I had my highs and of course some lows in my career, won my fair share of trophies, scored some goals along the way as well!" Berbatov continued.
"I played the way I wanna play, and I scored the goals I wanted to score!
"Thank you to all the people who helped me develop, and became the player I always wanted to be!
"Thank you to all my former teams, my teammates and my coaches and staff! It was a pleasure! I know at times I was not easy to work with, but I always gave my everything for the teams I played for!
"I hope you all have enjoyed my game, and everything I gave to entertain you on the pitch!"
