The Phillies announced the move on Thursday, noting that the 35-year-old Burrell will retire during the team's series against the Boston Red Sox at Citizens Bank Park.
In nine seasons in Philadelphia, Burrell belted 251 homers to rank fourth in franchise history. He also had 827 RBIs and 518 extra-base hits with the Phillies.
Burrell belted a double which led to the winning run in Game 5 of the 2008 World Series against the Tampa Bay Rays.
He later won another World Series title with the San Francisco Giants, who bested Philadelphia in the National League Championship Series on their way to the mountain top.
The top overall pick in the 1998 draft, Burrell has a .253 lifetime batting average with 292 homers and 976 RBIs.