The team announced the move on Twitter:
Carolina selected Stewart with the 13th overall pick in the 2008 draft. He spent the first 10 seasons of his 11-year career with the Panthers before playing the 2018 campaign with the New York Giants.
Most of the 32-year-old University of Oregon product's career was spent in a timeshare with DeAngelo Williams in the Panthers backfield. In 2009, they became just the sixth teammates to each rush for over 1,000 yards in the same season.
"It's with a grateful heart and excitement for this next season of life that I want share with you that I've signed a one-day contract and have officially retired from the NFL as a Carolina Panther," Stewart wrote on the Instagram for a company he owns with his wife, Natalie. "Thank you Panthers for 10 amazing seasons and bringing me to this place that I now call home. Keep Pounding!!!"
Stewart finished his NFL career with 1,705 carries for 7,335 yards and 51 rushing touchdowns. He added 162 receptions for 1,295 yards and seven receiving scores.
The Washington native earned his only Pro Bowl selection in 2015, when he tallied 1,088 yards from scrimmage and seven total touchdowns in the first season after Williams left to join the Pittsburgh Steelers.
Stewart ranked 14th among all running backs in Approximate Value from 2008 through 2018, according to Pro Football Reference.
He made just three appearances for the Giants last year before suffering a season-ending foot injury.