The 35-year-old former captain did not play the FIFA World Cup 2010 due to an Achilles injury. He, however, accompanied the team to South Africa as part of Capello's backroom staff.
"I say thank you very much for helping me at the World Cup but probably he is a little bit old," Capello told media ahead of England's friendly against Hungary.
After England clinched a 2-1 victory over Hungary without Beckham, the coach said the Manchester United star could hope for one "farewell game".
"I hope he (Beckham) can play one more friendly game to say bye bye," he said.
"David is a fantastic player, he was really important, but we have to see the new players for the future because the age is important for a lot of people, not only for David," the Italian justified.
Beckham, on the other hand, seems to be keen on continuing his football career.
Before Capelloe's remarks hit the media, the player had said that he does not wish to retire from playing for Englang.
"I've always said that I won't retire from playing for my country, whether I never get picked again, play one more game or 10 more games. There are a lot of good young players coming through. We'll see," he said in Carson, California.
After Capello's statement, the player's agent sent a statement to BBC indicating that the coach's statements were unexpected.
"For your info, there has been no discussion of retirement. He will always be available for his country, when fit and if needed he will be there," the statement read.
The team is now preparing for the 2012 European Championship qualifying campaign.