Kolarov spent the last two years of his career with Inter Milan and with his contract at the San Siro expiring at the end of this month, he has decided to call it a day.
Kolarov made just 15 appearances across all competitions during his time at Inter but won the Serie A title in the 2020/2021 season under Antonio Conte.
Famed for his powerful left foot shots, Kolarov started his career in his homeland with Cukaricki and OFK Beograd before joining Lazio in Italy.
A switch to Manchester City in 2010 saw him win two Premier League titles, one FA Cup and two League Cups.
Kolarov moved to AS Roma in 2017 and spent three years there before joining Inter.
On the international stage, Kolarov won 94 caps for Serbia, scoring 11 goals, and played at the 2010 and 2018 FIFA World Cups.
In a statement, Kolarov said: "I always knew that sooner or later this moment will come. Although I am sorry that I am closing one chapter of my life, I am grateful that I managed to achieve what has always been my dream.
"I thank all the people who followed me in this first part of my career. First of all, to every teammate in the teams in which I played as well as in the football team of Serbia, my homeland, which I have always represented with great pride. I thank the clubs, presidents, managers, coaches and technical staff, doctors, economists, physiotherapists and all those who helped in my career, and worked hard from the background.
"I am coming to the end of this phase in my life, feeling great satisfaction with what I have achieved. I hope that with my daily proving on and off the field, I have at least partially repaid this wonderful game and all those who supported me. Now I am already focused on my 'other' life in the world of football. I will soon start training as a sporting director and scout at the National Football Centre of the Football Federation of Italy in Kovercan."