The Wests Tigers star is sidelined with a biceps injury, unlikely to return this season, and will enter a full-time career in the media.
Anasta debuted for Canterbury in 2000 and was a part of the side that won the premiership four years later.
He joined the Sydney Roosters in 2006 and spent seven years at the club, with the 2010 grand final the high point of his stint with the tricolours.
The 32-year-old linked up with the Tigers last year but has decided to call time on his career with 288 NRL appearances to his name in addition to four Australian caps.
He also represented NSW on 10 occasions in State of origin and said he felt the time was right to hang up his boots.
“It obviously wasn’t a decision that I took lightly but, after numerous discussions with my family, I felt that this is the right time,” Anasta said.
“I am extremely grateful to have had the opportunity to play rugby league professionally and I have made a lot of great friends in the game.
“I would like to thank my friends, family, the club and everyone who has supported me throughout my career.”
Tigers coach Mick Potter paid tribute to Anasta and credited him with helping in the development of young guns such as Luke Brooks and Curtis Sironen.
“During his two seasons at the Wests Tigers, Braith has been a real asset both on and off the field,” Potter said.
“He has played a key role in helping develop younger players within the squad and I know that the young playmakers within the club have taken plenty of advice from him.”