Yorke, who captained Trinidad and Tobago at the 2006 World Cup, said: "It's time to hang up my boots.
"While I'm still in great shape, I'm not getting any younger. I've had the time of my life. I hope people will say that I played the game in the right way with a smile on my face.
"I've been blessed really. I've played alongside some of the greatest players the Premier League has ever seen in Roy Keane, Paul Scholes, Ryan Giggs, David Beckham, Peter Schmeichel, and played for the greatest manager in Sir Alex Ferguson.
"I'll always count myself lucky. I was a boy on a beach from a little Caribbean island that got the chance to fulfil his dream of winning trophies at the highest level and captaining his country in their first ever World Cup finals."
Yorke played 480 club games and scored 147 goals, scoring 64 in 151 appearances for United having teamed up with Andy Cole spectacularly.
Yorke, who has accepted a position as assistant manager of the Trinidad and Tobago national team for the rest of the World Cup qualifiers, added: "I always planned to stay in football.
"My aim is to build up some experience and then use what I've learnt from my playing days to coach and one day manage a team in England."