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It was accompanied with a picture of the cricket caps he has played in during the years.
Nicol could not be reached for comment but he posted the statement on a social website this afternoon.
Nicol's departure means the Volts will be missing a fifth experienced first-class campaigner next summer.
His retirement follows the high profile departures of Neil Wagner, Jimmy Neesham and Derek de Boorder, while Otago premier batsman Neil Broom has also retired from first-class cricket but will continue to play limited-overs cricket.
The 35-year-old right-hander had a disappointing season for Otago.
He appeared to be struggling with his fitness and did not look like the batsman he was in his prime when he forced his way into the Black Caps' set up in 2010.
Nicol played 21 twenty20s and 22 one-dayers for his country and two tests.
He was perhaps best suited to the one-day format where he managed to scored two hundreds and two half centuries for the Black Caps.He played most of his first-class cricket for Auckland (85 games) but also had a stint in Canterbury before finishing his career in Otago.
In all, he played 130 first-class games and scored 6319 runs at an average of 32.74, including 10 centuries. He also captured 43 wickets.
In one-day cricket Nicol reached 151 games and scored 4747 runs at an average of 35.20, including nine hundreds.