The 40-year-old ended his 22-year professional career after losing to fellow American Peter Quillin on Saturday by unanimous decision.
The Washington DC-born southpaw bows out with a professional record of 51 wins (with 25 knockouts), one draw and six defeats.
"Part of being a boxer is knowing when to call it quits," Wright said. "It's time for me.
"I did what I set out to do and that was to be great and become a world champion.
"I have a lot of great memories from my career and will still support this great sport."
Wright won his first world title, the IBF crown, in 2001 and three years later beat Shane Mosley to become undisputed world champion.
"Winky Wright is a class act in and out of the ring and if you wanted to see what true skill was, you watched him fight," said promoter Oscar de la Hoya.