Wright was taken with the 27th pick in the 2008 National Draft, before making his debut in round eight, 2009.
“I guess the decision’s been coming for a long time,” Wright told the club’s website.
“After the last surgery (on his ankle) I probably knew that I wasn’t going to go around next year, and the advice I’d be given was that I’d probably need to start focusing on life after footy and living a healthy life.
“Me being the stubborn person I am, I wanted to get out and play one more game, but it’s just become pretty evident in the last month that my body just won’t allow me to do that.
“I can’t train and I can’t play at a high enough level to get back and play AFL.”
Wright averaged 15.6 disposals, 2.3 rebound 50s and 4.5 marks per game across his career.
He’ll represent North Melbourne for the last time this Saturday, when he faces off against Box Hill in the VFL.