The goalkeeper was released by Premier League side Middlesbrough following their relegation, having made 28 league appearances in his final season in the game.
Valdes reportedly rejected offers from Deportivo A Coruna and Sporting Lisbon in order to retire from the game, and is now looking to start up a television production company. His first aim is to interview footballers, including many of whom he played alongside during his illustrious career.
The six time La Liga winner came through La Masia and spent 12 seasons with the Barcelona first team, 11 of those as first choice, before departing in 2014. A nightmare knee cruciate ligament injury brought an early end to his career at the Camp Nou.
From then on, he joined Manchester United in England but was never first choice, making just two appearances for the Old Trafford club as he played understudy to compatriot David de Gea.
He also spent a brief spell at Belgian side Standard Liege, making eight appearances, before joining Middlesbrough for one final season of professional football.
Having won the Zamora Trophy for most clean sheets in La Liga on five occasions, Valdes now retires with 20 international caps to his name.
Source: La Liga News