Alba began his youth career at Barcelona, who released him for being too small, but was re-signed in 2012 from Valencia for 14 million euros ($16.34 million) and went on to spend 11 seasons at the Catalan club.
He joined Inter Miami in 2023, linking up with former teammates Lionel Messi, Sergio Busquets and Luis Suarez, while another former Barca colleague, Javier Mascherano, is the current head coach.
"The time has come to close a truly meaningful chapter in my life," Alba said in a video posted on Instagram.
"I've decided to bring my professional football career to an end at the conclusion to this season. I do so with complete conviction, with peace, and with happiness."
The 36-year-old retired from international football in 2023 after making 93 appearances for Spain and was part of the Euro 2012 winning team where he scored in the 4-0 victory over Italy in the final.
Alba won six LaLiga titles at Barcelona, and the Champions League along with the Club World Cup and five Copa del Rey. In the US, he won the Leagues Cup and Supporters' Shield, and will bow out in November after the MLS playoffs.