Lee, still just 31, joined the Robins from St Helens ahead of last season and made 37 appearances across, scoring three tries.
He was due out of contract at the end of this season and had not been offered a new deal by KR.
Lee's last game was the 26-24 defeat at London Broncos and he said: “Physically I have been struggling with niggles and I feel like I can’t perform each day like I would like to.
“I feel that it’s the right time to call it a day. I have played for almost 15 years at the top level and I’m very proud of that.
“I would like to thank everyone at Rovers for their support over the last two years and wish everyone the best.”
Rovers are currently embroiled in a relegation fight and have an ongoing injury concern with on-loan hooker Matt Parcell.
Head coach Tony Smith added: “I would like to wish Tommy well for the future and I’d like to thank him for his time he has given to the club.
“He has had a career that he can be proud of and he will be successful in whatever the future holds.”