Cole, who is now 38, is set to call time on a career that spanned two decades.
Speaking on Sky Sports, Cole said: "After hard consideration, it's time to hang my boots up and look towards my next chapter, which will hopefully be coaching."
When asked about how to sum up his career, he said: "Incredible.
"As a young kid, I never expected to play one game or be a professional. Looking back, to be able to say I played in World Cups, Champions League finals, being lucky enough to lift Premier League titles - it's a young kid's dream.
"I fulfilled my dream and now I look to the future, hopefully as a great coach."