Anna Meares, 33, represented Australia in four Games in total, winning six medals – including two golds – to go with her 11 world titles.
Meares’s last Olympic crown came in South America in August, as she finished behind Great Britain’s Becky James and Elis Ligtlee of the Netherlands to claim a place on the podium in the women’s keirin.
There was to be no repeat of the success from London 2012 for Meares, who denied Britain’s Victoria Pendleton sprint gold on home soil to gain revenge from losing to her rival four years earlier in Beijing.
“It is hard to close this chapter, because it is a bloody big one,” she said in a statement. “But I am excited about the doors opening to the next chapter.”
Meares, who required six injections in her spine to take part in Rio, also competed in the Commonwealth Games on four occasions.