The 37-year-old played a total of 480 club games, scoring 147 goals, and won the UEFA Champions League with United as well as three successive Premier League titles.
During his time at Old Trafford, Yorke formed a formidable partnership with fellow striker Andy Cole and he found the back of the net 64 times in 151 appearances.
The former Trinidad and Tobago captain was released by Sunderland at the end of last season and has decided to call it a day.
"It's time to hang up my boots," he said. "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.
Blessed"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."
Yorke has accepted a position as assistant manager of the Trinidad and Tobago national team for the remaining World Cup qualifiers, and says he wants to stay in football.
"I always planned to stay in football," he added. "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.
"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."