Briedis said in a social media post that boxing had been an integral part of his life for the past 25 years but the time is now right to move on.
"25 years ago, I went into the unknown, putting on boxing gloves for the first time, not realizing at that time that it would lead me to a career as a professional athlete. Over time, boxing became my passion, my career and most of my life," Briedis, a former police officer, said.
During his professional career, Briedis won 28 victories and experienced three losses, developing a reputation as one of the toughest cruiserweights in the world.
The peak of his professional career came in 2017 when he won the International Boxing Federation (IBF) world title at cruiserweight, but disappointment followed when he was controversially outpointed in a fight against Ukraine's Oleksandr Usyk a year later.
Many who watched the fight in Rīga had Briedis ahead on points, but the judges did not agree. Having survived the toughest fight of his career to that point, Usyk went on to become the undisputed world heavyweight champion in May this year.
In latter years Briedis was regarded as a reliable and resilient fighter sometimes able to step into the ring at short notice.
He fought his last fight on June 18 of this year, losing to up-and-coming Australian Jay Opetaia on points.
However, outside the ring Briedis' reputation has been mixed. Many Latvian supporters were disappointed by ambiguous comments he made about the war in Ukraine and a bid to start a political career by running in the 2022 Saeima elections on the Harmony party ticket also alienated some former fans.