Pakistan veteran Shoaib Malik has announced his retirement from ODI cricket after his side's World Cup campaign ended.

A 94-run win over Bangladesh at Lord's on Friday was not enough to see Pakistan force their way into the semi-finals at New Zealand's expense.

Malik, 37, did not play having lost his place in the side earlier in the tournament and he confirmed after the match he will no longer be available for selection in ODI cricket.

"As I mentioned in my previous interviews, whenever I gave interviews, that I'm going to retire from World Cup cricket. Today was our last game, and I'm retiring from ODI cricket," Malik said in a statement made at a news conference.

"I had planned this for a few years ago to retire on the last Pakistan World Cup match. I'm sad that I'll be leaving the format of cricket that I once loved, but happy that I'll have more time to spend with my family. This will also allow me to focus on Twenty20 cricket.

"I would like to thank some of the most important people whose support and backing helped me through these 20 years of international cricket.

"Starting with the players I shared dressing rooms with, all the coaches I have under, my friends and family, the media, my sponsors, the Pakistan cricket board and Pakistan sports board.

"But most importantly, my fans. I love you all. Thank you."

Malik insisted he is not disappointed to have made such little impact in his last World Cup, having taken a single wicket and scored only eight runs across three innings.

"I think, if you go through the whole thing, sometimes you come out with a performance, sometimes you don't," he added. 

"But, of course, it's a big platform and expectations were high, but you don't perform that spot of life. I think life never stops, and I'm pretty satisfied with my ODI career."

Malik will go down in history as a Pakistan great, having played 287 ODIs, scoring 7,534 runs at an average of 34.55.

He made his ODI debut in October 1999 and produced nine centuries in the format, also chipping in with 158 wickets.