The 36-year-old will bring the curtain down on a glittering career after playing in Aston Villa's final game of the season against Birmingham City next month.
She won 71 caps for the Three Lionesses, having made her debut in 2004, played at two FIFA Women's World Cups and represented Great Britain at the 2012 London Olympics.
She tweeted: "On the eve of my 37th birthday, it's time to announce my retirement from football at the end of the season!"
"I want to thank my family, team-mates, managers, fans all the clubs I have played for."
"To say it's been a privilege is an understatement. It's been a dream"
Asante has previously starred for Arsenal, where she won five league titles and four FA Cups, Chelsea and enjoyed spells abroad with the likes of Sky Blue FC, Goteborg, Washington Freedom and Rosengard.
"When I look back, I'm really proud of what I've been able to do and what I've been able to experience throughout those years," Asante told BBC Sport.
"It's been an unbelievable journey. I'm so proud to have been a part of all that and to have shared it with so many amazing players and coaches. I've learnt so much from them over the years.
"It was a difficult decision to make, but I feel very lucky that I've been able to decide and be in control of what I want to do in this current point in my life."
Tributes have been pouring in for Asante, with Chelsea and England forward Fran Kirby tweeting: "Some people forget that women's football has been growing in this country for many years and it's because of people like Anita Asante that we now are in a position to excel and live our dreams as professional footballers. Thank you Neets, congratulations on an amazing career."
