Jones-Drew, who played with the Jacksonville Jaguars for eight seasons before moving to Oakland for the 2014 season, ran for 8,167 yards and 68 touch downs in his career.
He did not play much for the Raiders due to a hand injury and carried the ball just 43 times for 96 yards.
The player wrote on Twitter: “After much discussion with my family and business team this offseason, I have decided to retire from the National Football League.
“The past nine years have been amazing!”
Jones-Drew signed a three-year deal worth $7.5 million (??5m) with the Raiders in 2014 but the team won just three games last season.
His retirement – coupled with the team’s decision to release Lamar Woodley after the player’s below-par 2014 – gives the Raiders over $60m (??39.7m) in their salary cap for the free agent market, according to ESPN.com.