The 38-year-old American, taken 21st overall by Phoenix in the 2006 NBA Draft, has not played in the NBA since closing the 2021-22 campaign with the Cleveland Cavaliers.
"I'm done. I can't," Rondo said about returning to the NBA on the "All The Smoke" podcast. "I would rather spend time with my kids."
Rondo helped the Celtics win the 2008 NBA crown in just his second season in the league, then played a key reserve role for the Lakers in their 2020 title run.
Over 957 career games, Rondo averaged 9.8 points, 7.9 assists, 4.5 rebounds and 1.6 steals a game.
He was a three-time NBA season assists leader and led the league in steals in the 2009-10 campaign.
Rondo played more than eight seasons with Boston before being traded to Dallas in 2014 and making stops with Sacramento, Chicago and New Orleans before joining the Lakers.
He played for Atlanta and the Los Angeles Clippers before a final stint with the Lakers and his farewell with Cleveland.
"It was definitely something I never took for granted," Rondo said. "I loved every minute of it."
