Pandolfo, 39, played 18 games last season for the Boston Bruins and 62 the season prior to that with the New York Islanders. He spent the first 13 seasons of his career with the Devils, who selected him in the second round (No. 32) of the 1993 NHL Draft.
"I was very fortunate to live my dream of playing in the NHL," Pandolfo said in a statement released through the NHL Players' Association. "I was lucky to be part of three great organizations and would like to thank the New Jersey Devils, New York Islanders and Boston Bruins. I would like to thank all my teammates, coaches and staff for all the memorable experiences together. I'd especially like to thank my family for all the support they have given me throughout my career."
Pandolfo often formed a tandem with center John Madden in matching against opponents' top lines and killing penalties for the Devils.
He also could chip in offensively, scoring 10 or more goals in a season five times and scoring 20 or more points in four consecutive seasons from 2003-04 to 2007-08.
Pandolfo contributed six goals and 12 points in 24 games during the Devils' run to the 2003 Stanley Cup. He also was a member of New Jersey's 2000 championship team.
Pandolfo's teammates voted him the Devils' Unsung Hero in five of his 13 seasons in New Jersey (most in franchise history), and he also was named the team's Players' Player in three straight seasons (tying him with former captain Scott Stevens for most all-time among Devils players).
In 899 career regular-season games, Pandolfo had 100 goals and 226 points. He added 11 goals and 33 points in 131 Stanley Cup Playoff games, all with New Jersey.