Carter told his Western Force teammates of his decision to hang up the boots prior to last week's golden-point loss to the NSW Waratahs.
But the 35-year-old has one more game left in him - with Carter keen to line up for the Force in the June 28 showdown with the British and Irish Lions at Optus Stadium.
"I'm really keen to be involved in the Lions match later this month," Carter said in a statement.
"I think the British and Irish Lions are one of the things that make rugby so special and unique.
"After that, my family and I are planning to take some time off to reassess what the next chapter looks like for us."
Carter called time following a brilliant playing career that saw him earn 16 caps for the Wallabies, including being part of the side's 2015 World Cup squad.
The towering lock played 132 Super Rugby games after debuting for the ACT Brumbies in 2011.
He played 122 times for the Brumbies (2011-2019) and added another 10 caps at the Force since joining them in 2024.
During his time at the Brumbies, Carter was a club co-captain, won the side's best forward award and earned Rugby Australia's Academic Achievement Award in 2018.
Carter also spent five years in Europe with Ulster (2019-2023) and Leicester Tigers (2023-2024) between his Super Rugby stints.
The father of two said it was the right time to retire.
"I've come to a point where I feel ready to step away from rugby after 14 years in the professional game," he said.
"One of the big highlights for me was making my debut for the Wallabies in 2014, something I had dreamed of since I was a kid."
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