The 32-year-old, currently in his second spell with Melbourne after leaving Super League at the end of last term, made the announcement on Channel Nine's The Footy Show, bringing an end to a glittering 15-year career.
Finch, who played three times in State of Origin for New South Wales, will take on a role in the media with the Nine network from 2014.
"The time has come for me to enter a new phase of my life," Finch said. "I've had a great run and I just know the time is right.
"Rugby league has been very good to me and I feel very lucky to have enjoyed such a long and enjoyable career."
Finch made his debut for Canberra as a 17-year-old and was part of the Storm's 2009 grand final-winning side, which was later stripped of the title for salary cap breaches.