Richmond champion Dustin Martin has decided to retire from the AFL, effective immediately.

The triple Norm Smith Medal winner's future has been of great interest given his expiring contract, which was signed the same year he led the Tigers to their drought-breaking 2017 premiership.

Martin, known as arguably the greatest finals player in AFL history, walks away from the game with three Norm Smith Medals, a Brownlow Medal and three premierships as a Tigers legend.

โ€œIt is hard to put into words what the Richmond Football Club means to me, I love this place so much," Martin said in a club statement.

โ€œI will be forever grateful for the love and the support I have received from the people here.

"To my teammates, the brotherhood that we all share is what I value most as well as the bond with the staff and coachesโ€ฆ thank you to all of you.

MELBOURNE, VICTORIA - SEPTEMBER 30: Dustin Martin of the Tigers celebrates with the AFL Premiership Cup on stage as confetti flies in the air after winning the 2017 Toyota AFL Grand Final match between the Adelaide Crows and the Richmond Tigers at the Melbourne Cricket Ground on September 30, 2017 in Melbourne, Australia. (Photo by Scott Barbour/AFL Media/Getty Images)

โ€œTo my family and friends thank you for your unconditional love and support.

โ€œTo the Tiger Army, I have always felt so loved and supported throughout my career and for that I will be forever grateful. The memories that we have created together will live with me forever. Thank you.โ€

Richmond have confirmed Martin will be present for a farewell at the club's Round 24 against the Gold Coast Suns at the MCG in late August. It will be a fitting tribute for the departing Tiger, with former Richmond coach Damien Hardwick set to lead the Suns to see out the season.

Martin's retirement sees the 33-year-old end his career in the yellow and black with 302 games, a run that included four All-Australian selections and two Jack Dyer Medals.

Drafted out of Castlemaine in 2009 as the third overall selection, Martin made his debut the following year and would feature in 21 matches in his maiden season - the first of 11 consecutive seasons with 20 or more games played.

Martin would enjoy a breakout 2017 season with the Tigers, taking out the Brownlow Medal with a record-setting 36 votes for the season. He would also come away from that campaign with the AFLPA and AFLCA best player titles and his first of three Gary Ayres Awards as the best finals player on top of his first Norm Smith Medal and premiership win.

The physical and match-winning Tiger would play significant roles in the club's two following premierships in 2019 and 2020.

"So much has been said about Dustin's impact on our Club and the competition, but more than anything, and put simply, I think it is the joy that he gave the Tiger Army and those around him that might mean the most," outgoing CEO Brendon Gale said.

"Three premierships and best on ground in each of them will always be his legend, and rightly, it, along with his unique aura, will be what he is best remembered for.

MELBOURNE, AUSTRALIA - SEPTEMBER 28: Dustin Martin of the Tigers celebrates victory with the Premiership Trophy and fans during the 2019 AFL Grand Final match between the Richmond Tigers and the Greater Western Sydney Giants at Melbourne Cricket Ground on September 28, 2019 in Melbourne, Australia. (Photo by Mark Metcalfe/AFL Photos/via Getty Images )

"But I think Dustin would be most proud of what he was able to achieve playing for a teamโ€ฆ for our teamโ€”and the magnificent role he was able to play within that system, which let him be every bit the footballing genius that he was always destined to be.

"That genius was most evident when the stakes were at their highest, when the crowd was at its loudest, when all eyes were on him, and when the moments needed a hero.

"Dustin did it his way, and we are all just so lucky to have been Richmond people during his era of dominance. So, all I can say on behalf of everyone associated with our great Club is thank you to an icon. To our icon.โ€

Martin retires as one of just seven Richmond players to play 300 games for the club, having joined Kevin Bartlett, Jack Riewoldt, Jack Dyer, Trent Cotchin, Shane Edwards and Francis Bourke with his milestone game against Hawthorn in June.