"I started this journey 18 years ago, and I'm announcing my retirement today," the veteran allrounder said at a press conference in Lahore.
"I played for Pakistan due to the pride [I felt]. I didn't have greed, I didn't want to earn money, I only played for pride. I have no regrets of any kind. I am completely satisfied [with my career].
"It's not that physically I can't play on. I could have played the next World Cup as well but I decided to retire myself," the cricketeer explained.
Hafeez said that he would continue to play in the Pakistan Super League (PSL) as well as other cricket leagues.
Nicknamed the Professor, Hafeez began playing professional cricket in 2003. In 2014, he ranked the number one allrounder in the world in white-ball cricket.
He played his last game on the Pakistani team in a 2021 World Cup semi-final, defeating Australia in an end of innings showdown.
Pakistani Cricket Board (PCB) Chairman Ramiz Raja said in the Associated Press, “His game evolved with time, adjusting to different formats quite intelligently. Later in his career, he became a T20 specialist, where he was never out of touch with modern demands of this testing format. His batsmanship took a sprightly turn, nailing sixes almost at will.”