The Ukrainian, 41, was knocked out in the 11th round by current champion Joshua at Wembley Stadium in April.
Joshua, 27, had hoped Klitschko would sign his rematch clause for a proposed fight in Las Vegas on 11 November.
“I have achieved everything I dreamed of, and now I want to start my second career after sports,” said Klitschko.
The two-time former champion, who held the unified title from 2006-2015 before losing to Joshua’s fellow Briton Tyson Fury, ends his career with a record of 64 wins and five defeats.
“I would have never imagined that I would have such a long and incredibly successful boxing career,” he added.
Source: Wladimir Klitschko retires and will not fight Anthony Joshua in rematch – BBC Sport
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