Foles, 35, had been an unsigned free agent as training camps progressed. He announced his decision in a statement Thursday.
"After much thought and prayer, I've decided to retire from the NFL," Foles said on X, formerly Twitter. "It's been an incredible 11-year journey filled with unforgettable moments and amazing people. From being drafted by the Eagles to winning the Super Bowl, every step has been a blessing."
Philadelphia Eagles quarterback Nick Foles (9) hoist the Vince Lombardi Trophy after a victory against the New England Patriots in Super Bowl LII at U.S. Bank Stadium. Matthew Emmons, USA TODAY Sports
Foles cemented his place in Eagles and NFL history with his performance in Philadelphia's Super Bowl 52 win over Tom Brady and the New England Patriots. Most notably, he caught a touchdown from tight end Trey Burton on the "Philly Special" play that would become the signature moment of the game. He also passed for 373 yards and three touchdowns en route to Super Bowl MVP honors.
Foles began the season as Carson Wentz's backup but took over when Wentz tore his ACL in December.
The Eagles plan to honor Foles with a ceremony in the team's home opener in Week 2 against the Atlanta Falcons.
Nick Foles' career took plenty of twists
A third-round pick out of Arizona in 2012, Foles was in his second stint with the Eagles when he helped carry the team to its Super Bowl title.
After taking over for Michael Vick as the starter in 2013, Foles earned Pro Bowl honors after compiling an 8-2 record with 27 touchdowns and two interceptions – a mark that stood as the league's all-time best touchdown-to-interception ratio until Brady broke it three years later. Foles also tied the NFL record for touchdown passes in a single game with seven against the Oakland Raiders.
The following season, however, he struggled to replicate his efficiency and ended the season on injured reserve after suffering a broken collarbone in Week 9. Foles was traded to the St. Louis Rams in the ensuing offseason but would last just one season with the team before being released.
After reviving his career with the Eagles, Foles in 2019 signed with the Jacksonville Jaguars on a four-year, $88 million contract that included a franchise-record $50.125 million guaranteed. In his first game with the team, he suffered a broken collarbone in the first quarter, knocking him out of action for two months.
The Jaguars then traded Foles to the Chicago Bears in March 2020 as the franchise opted to move on from its marquee investment after just one season.
Foles was unsigned for the 2023 season, last playing in the NFL in 2022 with the Indianapolis Colts.
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