"I've lost the love and passion to play the game," Soriano said in a radio interview Tuesday in his native Dominican Republic. "Right now, my family is the most important thing."
Soriano, 38, completed in 2014 the final year of his eight-year, $136 million contract he signed with the Chicago Cubs before the 2007 season.
He ends his career 50th in baseball history with 412 home runs.
"Although I consider myself in great shape, my mind is not focused on baseball," Soriano said.
Soriano was released by the Yankees after playing just 67 games. He was hitting .221 with six home runs and 23 RBIs.