Clark, who boasts an impressive list of records and achievements from her playing career, will stand down from all levels of cricket to focus on her professional career, a Cricket Australia press release said on Friday.
A prolific batswoman, Clark missed the 1000-run landmark in Tests, as she finished with 919 runs from 15 matches at an average of 45.95.
She holds the world record for being the only cricketer to have scored a double century in One-Day International cricket.
Clark slammed an unbeaten 229 against Denmark in the 1997 Women's World Cup in India, as Australia piled up a huge score of 412 to beat Denmark by 363 runs. She has scored 4844 runs from 118 ODIs at an average of 47.49.
Clark said playing cricket had provided her with a lifetime of fond memories. But the time was now right to step down, and she was confident that transition planning over the last few years would see the national team move effortlessly ahead under a new captain.
"Playing cricket at whatever level has been such an enormous part of my life for so long that it's certainly going to be strange not to be pulling on the gear anymore," the 35-year-old said.
"I leave the game on the field with a lifetime of memories and I'm pleased that I still have the opportunity to be involved and contribute to Australian cricket through my new role at the Commonwealth Bank Centre of Excellence.
Among her many career highlights, she ranked World Cup wins in 1997 and earlier this year in South Africa as the stand out moments.
Australian women's cricket selection panel will recommend a new captain before the start of next summer's international series against India.