Somdev was rumoured to have shown interest in becoming the coach of India's Davis Cup side in place of Zeeshan Ali.
Taking to micro blogging website Twitter, Devvarman insisted that he is starting 2017 on a new note by calling time on his career.
"Starting 2017 on a new note, retiring from pro tennis. Thanks to everyone for the love and support over the years. #newyearnewbeginnings," Somdev said.
The 31-year-old's announcement comes days after he decided to give Chennai Open a miss.
Devvarman, the 2011 Arjuna Awardee, has been absent from the circuit for a few months now.
However, he was rumoured to have shown interest in becoming the coach of
Devvarman, who in 2009 became the only Indian player to reach the finals of the Chennai Open singles event, bagged a gold medal 2010 Commonwealth Games before clinching another Gold at the Asian Games later in the year.