"I have decided to retire from all forms of cricket," told Prasad.
"It is difficult for me to play for India. I thought I should not become an obstacle for youngsters. When I was a junior, we always thought when the seniors will make way for us," he said.
Prasad said he had been appointed as Director, Cricket Operations, to the ACA and would be involved in bringing up young players.
He thanked his family members, his mentors N Venkat Rao and V Chamundeswarinath of ACA and his employers Bharat Dynamics Ltd for helping him in his career.
The 33-year-old right-hand batsman and wicketkeeper made his ODI debut against Bangladesh in 1998 and went on to play 17 matches and scored 131 runs. His highest score was 63.
He made his Test debut against New Zealand in 1999 at Mohali. He played six Tests with a highest score of 19. MSK has to his credit 15 catches in Tests and 14 in ODIs, including seven stumpings.