By FOX Sports Staff
The 35-year-old defender, who made his Liverpool debut in 1997, has been an integral part of the Reds' successes over the ensuing 16-year period. With a 2013 Premier League title still an outside possiblity, Carragher will hang up his boots having won two FA Cups, three League Cups, a UEFA Cup as well as having played a major role in their historic 2005 Champions League final triumph over AC Milan.
Many figures, both from Liverpool and elsewhere, have been quick to praise the Anfield legend's career, all agreeing that the Scouser's determination, loyalty and defensive capabilities will be sorely missed by the English footballing fraternity.
FOX Sports pundit Steve McMahon believes that Carragher's decision to retire was the right call to make. And he feels that Bootle-born Carragher will always have a place at the club even after calling time on his playing career.
"He's had a fantastic career. But he's been a squad player for the past season," McMahon told FOX Sports.
"He has got to make decisions for his life apart from the footballing ones and he felt it was time. It was a professional decision.
"I'm sure if Carra wants to be a part of the coaching staff or be a club ambassador, Liverpool will accommodate him. He will be missed because he's been such a huge part of the club. He's part of the furniture.
"Everybody loves Jamie. He's a local lad and proudly carried on the tradition."
Former Liverpool defender Phil Thompson was also quick to give a stirring assessment of Carragher's career on Sky Sports.
"He's pushed his body to the limits over the years, all for the great honour of playing for Liverpool," Thompson commented.
"We have to give him credit for what he has achieved for the football club. Everything that Jamie has done throughout his career has been for Liverpool.
"People questioned his intentions when he retired from international football but Jamie thought it was right, not only for himself, but for his football club. Because his club is all-important to him.
"He has done football, in general, a massive credit in this country. The biggest compliment that I can pay to Carra is that, the way he plays the game, he could have fitted into any generation of Liverpool team."
Robbie Fowler, who had two spells at Liverpool during his career before retiring last year, responded to Carragher's retirement on Twitter.
He said: "Sorry to hear news on Carra, his quotes regarding retirement tell you everything about the man... An absolute legend of a player. And knowing Carra, he won't want a big fuss... But you know what, he deserves one of the biggest.. #23."
Michael Owen, another of Liverpool's former stars, also chose to hail Carragher and his career on the social media site.
He said: "What a servant Carra has been for Liverpool. A rare breed and it's been a privilege to play alongside, room with and be big mates with."
"I doubt we have heard the last of him. He has too much to offer the game to be away for long!"
Dietmar Hamann, who was a team-mate of Carragher for seven years at Liverpool, thinks the Bootle-born defender will finish his career on a high.
Hamann and Carragher were both part of Liverpool's treble-winning side of 2001, where the club won the UEFA Cup, FA Cup and League Cup, and they also played together in the 2005 Champions League final where they beat Milan.
Hamann tweeted: "Just heard that Carra retires at the end of the season.One of the all time great LFC players,he showed in the last few weeks he still got it."
Manager Brendan Rodgers, meanwhile, believes that Carragher still has an important role to play for the side in the final few months of the season.
“He’s been fantastic for me and will have a significant role to play between now and May," the Northern Irishman declared on the club website.
"We still have a lot to play for as we look to finish as high up the Barclays Premier League as possible and continue our progression in the Europa League, a competition we'd like to win.
“When the time is right we will give him the tribute and recognition he deserves.”
Jason McAteer, who played alongside Carragher between 1995 and 1999, believes the Reds stalwart will be sorely missed when he does finally hang up his boots for good.
McAteer told Sky Sports News: "It's not just a sad day for football but it's a sad day for Jamie Carragher.
"I'm sure it's not been a decision he's taken lightly.
"He knuckled down, worked very hard and has become a credit to the game and the football club and that's why it's going to be a sad loss.
"When you have a player that has been around as long as he has it will leave a hole."