Shevchenko, who played for Ukraine at Euro 2012, revealed the news in a statement released by his club Dynamo Kiev.
The 35-year-old striker said: “This will probably shock everyone.
“My future will no longer be in football. I will give more information but I will be going into politics.
“I hope for your support.”
Shevchenko earned his reputation as one of Europe’s most prolific strikers in two successful spells with AC Milan.
He scored 175 goals in 322 appearance during his combined time with the Rossoneri, helping them lift the Champions League in 2002-03 and the Serie A title the following season.
His two stints with Milan sandwiched a three-year spell at Chelsea, although he struggled to make his mark at Stamford Bridge.
Shevchenko also won five league trophies with Dynamo having started — and now ended — his career there.
He is his country's all-time leading goalscorer with 48 goals in 111 international matches.
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