The 40-year-old spent three seasons with the Winnipeg Jets then 17 with the Red Wings before finally calling it quits after playing in 1,157 regular season games, spent mostly as a third and fourth-line center.
"Kris Draper has represented the Detroit Red Wings with nothing but class and dedication for the last 17 years," Red Wings general manager Ken Holland said in a statement.
"His extraordinary work ethic has provided a great example for all players within our organization and his influence on the young players in our system will be felt for years to come."
Draper represented Canada at international level, winning gold medals at the 2003 world championships and 2004 World Cup of Hockey. He was also a member of the Canadian team at the 2006 Winter Olympics in Turin.
He was traded to Detroit for $1 in 1993 after spending three seasons with the Jets and established himself as a key player in the Red Wings roster. In the 2003-04 season, he was awarded the Frank J. Selke Trophy as the league's best defensive forward.
He went on to win Stanley Cups in 1997, 1998, 2002 and 2008 and was only the fifth player after Alex Delvecchio, Gordie Howe, Steve Yzerman and Nicklas Lidstrom to play 1,000 games in a Red Wings uniform.
Draper became the third member of the Red Wings to retire since the end of the 2010-11 regular season, following Brian Raflaski and Chris Osgood.
(Reporting by Frank Pingue; Editing by Julian Linden)