The 32-year-old former Namibia captain has made 113 appearances since joining Sarries in 2009 and helped the club win two Premiership titles.
Burger, who won 41 caps and appeared at the 2015 World Cup, will return to Namibia to become a farmer.
"It is sad that it's coming to an end but playing rugby is something that I have really loved doing," he said.
"Growing up I wanted to be a professional rugby player and I have been fortunate to live that dream."
Saracens director of rugby Mark McCall described Burger, who leaves just two weeks before the Champions Cup final and the start of Sarries' Premiership play-off campaign, as "an amazing player and person".
"He set a phenomenal example on the field with his bravery and the way that he gave everything he could in every game," McCall told the club website.
"He will always be remembered as one of the true greats of Saracens."
Saracens back row Jacques Burger will retire from rugby after Sunday's Premiership game against Newcastle.