"I've decided to retire from professional tennis," Ivanovic announced. "It has been a difficult decision but there's so much to celebrate."
The Serb added: "I was ranked number one in the world and won Roland Garros in 2008. I've seen the highs I never dreamt of achieving.
"I won 15 WTA tour titles, (and played in) three Grand Slam finals and Fed Cup finals and played so many memorable matches.
"Any professional sport requires top physical form and it's well known that I've been hampered by injury.
"I can only play if I can perform up to my own high standard and I can no longer do that so it's time to move on."
Ivanovic's last outing was a first-round loss at the US Open in September, a result that saw her drop out of the top 50 for the first times since 2010.
She announced at the time that she had taken the decision to stop playing until 2017 on medical advice over a recurring wrist injury, with a problematic toe also needing surgery.