The former Manchester United and Manchester City striker was in his third spell with the club, where he started his playing career.
Tevez has enjoyed a nomadic career, turning out for clubs like Corinthians in Brazil, Juventus, West Ham United and Shanghai Shenhua.
The 37-year-old won five league titles in his three spells with Boca as well as the Copa Libertadores in 2003 and a host of other trophies.
Tevez, who lost his father to Coronavirus in February, has not confirmed whether he has retired from football but will not be turning out for another club in Argentina.
"This is not a farewell, but a see you soon," Tevez said to reporters. "I have nothing else to give Boca.
"Mentally I am not ready. I didn't even have time to mourn my father, that's how demanding this is.
"At this point in time I need to lean on my family and be there for them.
"Today I can say that yes, I’m retiring, but maybe in three months I wake up and I want to play again, but not in Boca Juniors again.
"I want to thank the [Boca] leadership, colleagues and coaching staff."
Tevez won 76 caps for the Argentina national team, scoring 13 goals.
