"I can confirm that this is the end of my career," Prospal told Czech website iDNES.cz. "I found out that I wouldn't be able to give 100 percent to hockey anymore."
Prospal was scheduled to join Utica for Friday and Saturday games against the Abbotsford Heat, who play about a one-hour drive outside of Vancouver.
"After further thought and talking with his family, Vinny Prospal has informed Canucks that he's retiring and won't be joining Utica on PTO," the team said via its official Twitter account.
Prospal, who turns 39 on Feb. 17, had 255 goals and 765 points in 1,108 career NHL games, including 12 goals and 30 points in 48 games with the Columbus Blue Jackets last season.