"It was a very difficult decision as it isn't easy to leave tennis," Corretja told Spanish state television.
The 32-year-old turned professional in 1990 and reached his highest world ranking of number two in February 1999, after winning the season ending Masters Cup the previous year.
He made the final at Roland Garros in 1998 and 2001 and helped Spain win their first Davis Cup title in 2000.
Corretja had not played an ATP event since April 2005.