"Hanging up my T20 shoes and retiring from all forms of cricket," Malinga said on Twitter.
"Thankful to all those who supported me in my journey and looking forward to sharing my experience with young cricketers in the years to come."
Malinga, who made his Sri Lanka debut against Australia in a test in 2004, gained a reputation for his searing in-swinging yorkers that were hard to play due to his distinctive round-arm delivery action.
The 38-year-old took 546 international wickets, including a record 107 in T20s. He was a member of the squad that reached the one-day World Cup final in 2011 and captained the side that won the 2014 T20 World Cup.
Malinga is the only bowler to take four wickets in four consecutive balls twice in internationals -- against South Africa in a 2007 ODI and against New Zealand in a T20 in 2019.
He struggled with injuries during his career, needing ankle surgery in 2014 and missing many matches due to a chronic knee problem.