The defender, who has spent his entire career at Tottenham, has been plagued by injuries throughout his career and the demands on his body have proved too much.
"I have been here since I was a boy, I have always considered it my club and have always found it hard to imagine wearing the shirt of another team," King told the club's official website.
"I know that being a one-club man is a rarity these days, but I have always enjoyed being part of the set-up here and the challenge of putting this club up with the elite where it should be.
"I would like to say thank you to everyone at the club and to the fans. I have missed a lot of football over the years, but the Spurs fans have always been patient and incredibly supportive with me during difficult periods. Sadly my injuries and inability to train have now finally brought an end to my career."
King, who has made over 300 appearances in all competitions for Spurs and holds the record for the fastest Premier League goal - 10 seconds against Bradford City in December 2000 - will remain with the club in an ambassadorial role.
Spurs chairman Daniel Levy said: "Ledley has made a magnificent contribution to this club - as a wonderful player, captain and ambassador.
"It has been well documented how he has battled against injury over the years and it is testament to the character of the man how he managed to sustain such high standards of performance on the pitch, while providing such fine leadership.
"It is in an ambassadorial capacity that Ledley will continue, playing a crucial role in supporting the club's work in the community and the ongoing regeneration of the Tottenham area, whilst also being a hugely positive role model for our younger players."
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