The three-time world time trial champion said a recent issues with a previously diagnosed heart arrhythmia led him to reconsider his career.
"This latest diagnosis, added to the congenital heart condition I was diagnosed with in 2001, means that my competitive career must end. My last race being the Dubai Tour in February," Rogers said.
"In hindsight I'm grateful my original cardiac condition, a malformation of the aortic valve, remained stable until recently, allowing me to compete from my humble beginnings in the Australian outback town of Griffith, all the way to top of the professional ranks.
Whilst I'm disappointed to miss my 13th Tour de France and a chance to compete at my fifth Olympic Games, I'm not prepared to put my health in jeopardy."
Rogers, who won stages at the Tour de France and Giro d'Italia and represented Australia at four Olympic Games, began his career in 2001 and has ridden for Mapei–Quickstep, T-Mobile, HTC and Team Sky before making the move to Tinkoff-Saxo.
"I'd like to take this opportunity to thank all my former team-mates, personnel and team managers from the respective teams I raced with," Rogers said.
"The endless amounts of fun we had together will always be at the forefront of my mind. Many of you have had, and continue to have, a big influence on my life. A further mention goes to my worldwide fan base. Your support during the good times and the bad is greatly appreciated.
"I'll particularly miss the riders, personnel and management of Team Tinkoff. Owner Oleg Tinkov is by no means your typical cycling stereotype. He is a one-of-a-kind supporter of our sport and I hope he reconsiders his decision to leave cycling at the end of the year."