On Monday the club announced the veteran midfielder will hand over the captaincy ahead of the new season, seeing an end to his nine-year reign.
“To Captain an AFL Club is one of the greatest honours and it is not something I have ever taken for granted,” Pendlebury said in a club statement.
“It has been an absolute privilege to lead this side for as long as I have.
“At 34 years of age and in the twilight of my career, I felt that this is the optimal time to hand over the position and support the next Captain of our Club.
“I have experienced all the great football highs and lows throughout my nine-year tenure as Captain and I look forward to seeing the next person take the opportunity and make it their own.
“This year, I have shared in what feels like a new era of Collingwood – with new coaches, staff and a young playing group – and we have all witnessed what we have been able to create. It seems timely that we welcome a new Captain for season 2023.”
Pendlebury, Collingwood's longest-serving skipper, was handed the role of captain ahead of the 2014 season, taking the role from 2010 premiership skipper Nick Maxwell.
The 34-year-old has led the Magpies in 206 games, a Collingwood record. He informed his teammates of his decision on Monday.