Serbia's football federation (FSS) have confirmed.
FSS sports director Vladimir Matijasevic said: “Other than saying it was time for younger players to take over, Matic did not state any other specific reasons for quitting.
“We respect his decision. He is 32 years old and he's had an exerting club season. European club football is demanding and hence we are aware that we'll have to inject fresh blood into the national team.
“We've got several players who are over the hill and we realise that some of them may call time on their international careers in the next year or two."