Balzaretti has struggled with recurring groin injuries for the last two seasons with the full-back’s last appearance coming in final match of last season, a 2-1 home defeat to Palermo.
According to Tuttomercatoweb, Balzaretti will now take on a role in sports management and will act as the right hand man to sporting director Walter Sabatini as he scouts players, mainly in Italy.
During his time at Roma, the 33 year-old made 33 Serie A appearances with 27 of them coming in the 2012-13 season.
Balzaretti joined the Giallorossi in 2012 from Palermo, a club who had been at since 2007.
The former Italian international was also part of the Italy squad that reached the final of Euro 2012 only to lose 4-0 to Spain.