The 27-year-old ruckman/key defender underwent post-season surgery for a degenerative knee condition, which forced his hand at the elite level.
After playing 70 from 71 matches from 2006-08, Campbell also battled gluteal and finger injuries in 2009.
He played 116 matches for the Hawks, including 14 this year, after debuting in 2002.
Originally drafted from Rutherglen/Murray Bushrangers, Campbell said he was appreciative of the opportunities he had been given and the support he'd been shown by the club.
"You're told from the start of your career that footy is a ruthless business, and you are never under any illusion," Campbell said.
"Since 2005 I knew that I have had a degenerative knee condition, and I had thought at that time my career might be cut short, then and there.
"I will be eternally grateful for the faith Clarko [Alastair Clarkson] and his coaching group showed in me – to allow me to continue playing footy – and ultimately play in a premiership team."
Clarkson paid tribute to Campbell, who developed into a key defender this year, after playing as a ruckman in the 2008 premiership.
"We had enormous trust and belief in the manner that Robbie could influence a contest and this will be one aspect that will be difficult to replace," he said.
"He has overcome many obstacles in his football career but we have taken the decision that the journey of life should now take significance over the journey of football. A player's well-being is the most important thing."
