The Hungarian, who won the men’s 200 metres breaststroke event at London 2012, took to social media to reveal his decision.

"Making the most difficult decision of my life, I am saying goodbye to competitive swimming," his Facebook post reads.

"I am not a 'give-up type of guy', but I had to admit that it's time to let it go."

Gyurta burst onto the international scene at the age of just 15, finishing behind Japan’s Kosuke Kitajima to claim the silver medal in the 200m breaststroke at the 2004 Olympic Games in Athens.

Eight years later in London, he beat Great Britain’s Michael Jamieson to the gold medal in the same event with a then world record time of 2min 7.28sec.

Gyurta also won the 200m breaststroke world long course title in 2009, 2011 and 2013.

In 2015, he came away with the bronze.

"I am grateful to the whole nation for standing behind me and for the fact that I won everything a swimmer may dream of," Gyurta added in his post.

Gyurta won a UNESCO International Fair Play Award in 2013 after he gave a replica of his Olympic gold medal to the parents of his Norwegian rival Alexander Dale Oen, who died of heart failure aged 26 just before London 2012.

He has also been honoured with the Order of Merit of the Republic of Hungary and was named Hungarian swimmer of the year in 2004, 2009, 2011, 2012 and 2013. 

Gyurta is currently a member of the IOC’s Athletes' Commission and Sport and Active Society Commission.