Baloyi, who is affectionately known as 'Spider-man', enjoyed a successful career playing for both Kaizer Chiefs and more recently Mamelodi Sundowns, while also winning 24 caps for Bafana Bafana along the way.
The 37-year-old believes there is no better time than now to hang up his gloves and is grateful for all the memories.
"I have achieved almost everything in domestic football, which is why I have decided to quit the game before being booed off the field," Baloyi, who will join Sundowns' marketing department from next season, told Sunday World.
"I have enjoyed every moment in this beautiful game where I played for two of the biggest clubs in the country.
"I look forward to the new role that I am going to play in the team.
"Twenty years has been like a lifetime. God and the game have been good to me and I have no regrets.
"I will miss that atmosphere of playing before big crowds."