"From a 23rd round draft pick to the franchise saves [king]," the Indians posted on Twitter. "Congrats on a great career, Cody. Happy Retirement."
Allen, who signed a minor league deal with the Texas Rangers before the 2020 season, did not pitch during the pandemic-shortened season.
Drafted in 2010, Allen is Cleveland's career leader as a reliever in saves (149), appearances (456) and strikeouts (54) over his seven seasons with the team. The 32-year-old right-hander had at least 30 saves in three straight seasons with the Indians from 2015 to '17, including 32 in 2016, when he helped the Indians win the AL pennant and get to Game 7 of the World Series.
After acquiring All-Star Brad Hand in a trade, the Indians chose not to re-sign Allen after the 2018 season. Allen was 0-2 with four saves and a 6.26 ERA in 25 appearances for the Los Angeles Angels in 2019.
Allen had a 24-31 record with a 3.14 ERA and 153 saves in 481 games. He also had seven postseason saves.
The Associated Press contributed to this report.