The 31-year-old featured in the Magpies' 2010 premiership and was named All-Australian in 2011.

Reid informed teammates and staff of his decision on Friday before the side travels to Perth for its elimination final against West Coast at Optus Stadium on October 3.

"This year was going to be my last and I had a minor setback on Thursday so rather than take a risk and go to Perth I thought it was better to let a younger player go, someone with their future ahead of them," Reid said on Collingwood's website.

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"In a sense, I grew up at Collingwood and I'm just so thankful for all that I experienced, all that I learnt and the many great people I met.

"Thanks to the Collingwood Army for their fanaticism and voice. Thanks to the many team-mates, coaches, friends and family who travelled with me over the years. Whatever I was able to do it was with your help."

Reid was selected by Collingwood with the eighth selection in the 2006 national draft and was a premiership defender by 21 and the owner of an All-Australian blazer at 22.

Injuries derailed the second half of his 14-year career which finished on 152 matches.

There's been speculation the former Bright and Wangaratta Rovers junior could join Ovens and Murray powerhouse Wangaratta next season.

Reid becomes the second player hailing from the region in as many days to retire from the AFL, with former Gold Coast, Richmond and GWS midfielder Anthony Miles ending his career at the top level on Thursday.

Miles signed a three-year deal as co-coach of Albury.