The 38-year-old is currently playing his football in the MLS with New York City FC, but will hang up his boots at the end of the season in December, before embarking on a career in coaching.
There have been strong suggestions Pirlo could head to Chelsea and work alongside Antonio Conte, someone he knows well from his time with Juventus, as his assistant, and the playmaker has suggested it could be an option.
"You realise that the time has come," the Italian told La Gazzetta dello Sport. "Every day you have physical problems, you are no longer able to train as you would like because you always have some problem.
"At my age you have to say enough. It is not as if you can keep going till you are 50. I will do something else. "My future, I don’t know yet. I will return to Italy in December.
"An assistant to Conte? People are saying that. I have my ideas but I need time to decide."