Chaney, one of two Division I players who had competed with the assistance of an internal defibrillator during the 2013-14 season, discussed his career with doctors after his device was activated in a game last month.
Dr. Frank Marchlinski, the cardiologist who performed heart surgery on Chaney three years ago, met with Chaney and other physicians before ultimately advising the senior to end his career, according to a statement.
"I'm thankful to my doctors here and in Philadelphia for the great medical care, and I'm thankful to everyone at High Point University, especially Coach [Scott] Cherry and the coaching staff, my teammates, Geoff Staton and all of the other athletic trainers," Chaney said through the school's statement. "It's great to be here. Playing basketball won't be a part of my life going forward, but I'm planning on working with kids and maybe coaching at some point."
According to the school, Chaney will graduate with his master's degree in the spring, and then he intends to start a nonprofit organization to help children who suffer from heart ailments.
Chaney, who transferred from Florida to Virginia Tech after the 2008-09 season, was diagnosed with viral myocarditis, an inflammatory heart disease, after he collapsed during an individual workout with the Hokies in April 2010. He then underwent a surgical procedure to insert the defibrillator into his chest. After Virginia Tech refused to clear him for competition, Chaney transferred to High Point last summer and resumed his career.
This year, he was named to the Big South's preseason all-conference team after averaging 14.5 points, 8.1 rebounds and 1.2 blocks during the 2012-13 campaign.