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The 35-year-old was also part of Germany’s World Cup-winning side in 2014 and won 18 trophies with Bayern, including the Champions League in 2013 as part of an historic treble.
In a tweet announcing his decision, he thanked the teams that he has represented, as well as his wife, former tennis player Ana Ivanovic.
Having first joined Bayern as a 14-year-old, he went on to make 500 competitive appearances for the German side, winning eight Bundesliga titles and seven German Cups, while collecting 121 caps for his country in the process. He spent the last three years of his career in the MLS with the Chicago franchise after two years at Old Trafford where he won an FA Cup.
At the peak of his powers the midfielder was widely regarded as one of the best players in his position in the world and was an integral part of Bayern’s dominance of German football for much of his career.
Only three players – Lothar Matthaus, Miroslav Klose and Lukas Podolski – have made more appearances for Germany than Schweinsteiger, while he also managed 24 goals in the process.
His most recent boss, Chicago Fire Owner and Chairman Joe Mansueto, said: “Basti has meant so much to our club. It was an absolute pleasure to watch him play. His soccer IQ is so elite, you can see that he's three steps ahead at every turn. He's a leader, a great teammate and a generational player who put Chicago Fire on the world map. I'd like to say, on behalf of the Club: Danke, Basti."
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