Olsen, who played his final season with the Seattle Seahawks, announced his decision on Fox's pregame show on Sunday. On Saturday, the network announced he would join the pregame show as a special guest.
Olsen later posted a statement on his Twitter account about his decision to retire:
In July, the tight end reportedly finalized a deal with Fox Sports to serve as its No. 2 analyst, a move he originally was going to make before joining the Seahawks on a $7 million contract.
After a quieter season in Seattle, where he posted 239 yards on 24 receptions through 11 games, Olsen closes out his career ranked fifth in receiving yards (8,683) and receptions (742) by a tight end in the Super Bowl era, and his 60 touchdowns rank eighth.
After four seasons with the Bears, who drafted him with the No. 31 pick out of Miami in 2007, Olsen was dealt to Carolina, where he started every game from 2012-16. Within that time frame, he became the first tight end to have three straight 1,000-yard seasons, a feat he accomplished from 2014-16.
He ranks as the franchise's all-time leader in receiving yards (6,463), receptions (524) and 100-yard receiving games (10) for a tight end and is second to Wesley Walls (44) with 39 receiving touchdowns.
One person who could follow Olsen's path off the field and into the broadcast booth is New Orleans Saints quarterback Drew Brees, who back in April reportedly signed a deal with NBC Sports to "be groomed as the potential replacement for Cris Collinsworth on Sunday Night Football" following retirement, though Brees has yet to make any announcements regarding his future plans.