The 37-year-old suffered the problem in March after his last appearance for the Shrimps in the 3-3 draw at Northampton.
He said: "It's not the way I wanted to go out but it makes sense.
"When you get to my age you have to listen to your body and the injury I have means there is no way I could train full-time now and it`s best that I call it a day.
"I've played for a long time and not missed many games in my career and I suppose things eventually catch up with you and that is where I am now.
"I will look at things over the next few months and look to see if I can play in a part-time capacity because I love playing football."
Source: PA
Source: PA