
British broadcaster Sky Sports reported the news overnight.
Norwegian broadcaster NRK reported that the 34-year-old Solskjaer had decided to retire over knee injuries that have plagued him in recent years.
He has undergone seven knee operations and faced new surgery.
Solskjaer transferred from Molde in 1996 and won six Premier League titles and two FA Cup trophies with the famed English side.
The Norwegian's likely most memorable goal for United was the winning one he scored in the UEFA Champions League final against Bayern Munich in 1999.
DPA