It ends a 14-year career that included four Pro Bowls, but no Super Bowl appearances.
Romo reportedly has interest in becoming a TV analyst, probably CBS, according to a source.
If so, he will join a strong list of former Cowboys who moved to the booth after their careers ended. Some had brief stints, such as Emmitt Smith, but many developed successful careers.
Even a couple of former Cowboys coaches, Jimmy Johnson and Bill Parcells, have made their mark on a TV set.
Here are a few others:
Don Meredith: He was an original member of ABC's "Monday Night Football" broadcast team. He died in 2010.
Troy Ailkman: He teams with play-play-announcer Joe Buck and sideline reporter Erin Andrews on Fox's No. 1 NFL broadcast team.
Michael Irvin: Prior to every Thursday Night Football game on CBS and NFL Network, Irvin is an analyst on the NFL Total Access Kickoff pregame show on NFL Network.
Deion Sanders: He joins CBS Sports' James Brown and Bill Cowher for CBS Sports and NFL Network's Thursday Night Football pregame, halftime, and postgame coverage.
Darryl Johnston: He works in the NFL on FOX broadcast booth alongside play-by-play announcer Kenny Albert & sideline reporter Laura Okmin.
Darren Woodson: Works as an NFL analyst for ESPN. He appears on NFL Live and other platforms.