Currently ranked 231, Nalbandian, who spent five consecutive seasons in the top 10 and reached as high as number three during his 13-year career, has played only 11 times this year, including a run to the final at a clay tournament in Brazil.
According to Sport24, Nalbandian's final appearance will be an exhibition match against US Open winner Rafael Nadal on November 23 in Buenos Aires.
Stating that it was a “difficult day”, Nalbandian, who is 31 years old, said that he cannot compete at the ATP level any more as his shoulder does not respond well, adding that he is “super grateful” to the sport.
Nalbandian further said that his greatest regret was not being able to win the Davis Cup - he was a losing finalist in 2006, 2008 and 2011.
The Argentine was the runner-up at Wimbledon in 2002, losing to Lleyton Hewitt of Australia, and reached the semi-finals or better at all four Grand Slam tournaments, the report added.
Image: David Nalbandian
Photograph: Stephen Dunn/Getty Images