The 35-year-old Norway international moved to Craven Cottage in 2008, reuniting with then-manager Roy Hodgson who he had worked with during their time together at Viking.
He left in 2014 to join the Eagles but, following his release, he has now decided to hang up his boots.
"I've thought long and hard about the future and decided it's time to end it," he told Sky Sports News.
"So I'm announcing my retirement after a long time and half of that time in this lovely country
You can choose to be sad that's it over or you can be happy that it's happened.
"I feel so fortunate
It's obviously sad when it comes to an end but I think it's important to know when the time is right to finish.
"With the aches and pains, and I'm 35 years old now, it's time to retire
I can't really do the job I want to do any more."
Hangeland spent almost six years at Fulham, playing in their Europa League final defeat to Atletico Madrid, ending the 2010-11 campaign as the club's second-highest goalscorer behind Clint Dempsey and captaining the club.
His departure was acrimonious as he claimed to have been released by e-mail, while also revealing manager Felix Magath once instructed him to place a block of cheese on a thigh injury instead of allowing the problem to be treated by the club's medical staff.
However, Fulham did post a tweet shortly after the announcement.
It read: "Everyone at #ffc would like to wish Brede Hangeland the very best in his retirement! Thanks for the memories, Brede."
Following his exit from Fulham, Hangeland moved across London to join Palace - only for manager Tony Pulis to quit two weeks later.
He could never rediscover his consistency from his earlier days in the Premier League and found first-team opportunities harder and harder to come by until he was released at the end of last season.
Source : PA
Source: PA