Melbourne Storm and NRL great Cameron Smith officially announced his retirement from rugby league on Wednesday.

There had been ongoing speculation over Smith's future, with the NRL's most-capped player linked with both Brisbane Broncos and Gold Coast Titans after relocating from Melbourne.

But the 37-year-old star will retire a one-club player after a record 430 games with the Storm, three NRL Premierships and two Dally M Medals.

Smith also captained Australia to Rugby League World Cup success in 2013 and 2017.

"I've spent a few months now up in Queensland with the family. For me I look back on my career and just found that I'm very fortunate to be part of an organisation with great people and footballers," Smith said ahead of the 2021 season, which gets underway on Thursday.

"It felt like the right time after the finish to last year. You couldn't have asked for more than finishing with a premiership at a club I've played my whole career."

Smith was out of contract following 18 years with the Storm in Melbourne.

The 42-time Queensland Maroons legend, who earned 56 caps for Australia, led the Storm to NRL glory last year.

"I've been wrestling with the decision for quite some time. In the weeks after the season had finished guys like Billy [Slater] and guys I've grown quite close to, just trying to talk to them about my situation and how they came to the conclusion as to when it was the right time," Smith said.

"After last year winning the Premiership I still felt good physically and mentally. I still thought my form was good enough to play in the NRL but after spending time with my family in Queensland I knew it was the right time to finish.

"It's a chance to enjoy the next phase in my life and hopefully it's still in rugby league in some capacity. In my head I probably made the decision a week ago but knowing the unveiling was today and I was going to be in Melbourne I thought it was a good time to announce my decision.

"I started here with Billy at Olympic [AAMI] Park in 2002 so this is where I wanted to end it. Given the amount of time I've spent here and what I've built with Billy, Cooper [Cronk], Ryan Hoffman, Jesse Bromwich ... guys who have put in effort to build the Storm as an organisation.

"As a rookie I always thought I wanted to be a one-club player. Sometimes those choices are taken away from you but thankfully I've been able to do that for 19 years here."

Storm head coach Craig Bellamy added: "I think he's the greatest player I've ever seen. For what he's done, no one has gone over 400 NRL games and 100 rep games, and the success as captain it's quite remarkable.

"I can't see it happening again. It's hard to describe his effect on our club and the game. The biggest thing is how long he's done it for. When he told me this morning I was always genuine in that I said last year he deserved the right to make a decision when he was ready.

"For me the most important thing was that Cameron and his family be happy and I stand by that.

"It would've been strange for me to watch him in another jumper but that's obviously not going to happen. At the same time I still would've been his number one supporter even if he was playing against us.

"Hopefully we can keep Cameron around the club. If we can get him to give advice to our ruck plays and dummy half, his leadership is unparalleled."