GREEN BAY, Wis. -- It's a day that many Green Bay Packer fans were hoping would never come: star quarterback Brett Favre has decided to retire, team officials have confirmed.

VIDEO: Armstrong Speaks About Favre's Retirement

Favre told ESPN's Chris Mortensen that he knows he can still play, but he's just tired mentally.

Packers general manager Ted Thompson confirmed early-morning reports of Favre's retirement in a statement posted on the team's Web site. Thompson said the Packers owe the 38-year-old, 17-season veteran a tremendous debt of gratitude.

Thompson said that Favre has had one of the greatest careers in the history of the National Football League and he's able to walk away from the game on his own terms.

He said that Favre has given Packers fans 16 years of wonderful memories, including a Super Bowl championship.

The quarterback has flirted with retirement over the last several years but came back each time and rebounded to have one of his best seasons in 2007.

The Mississippi native leaves the game holding virtually every career passing record, plus his consecutive starts streak, which might never be duplicated. He is the the NFL's all-time record holder in several categories including wins by a starting quarterback, passing yards and touchdowns.

Favre experienced a resurgence during the 2007 season -- only two years removed from perhaps his worst season. He broke several career records. Among them was Miami Dolphins quarterback Dan Marino's career mark for career touchdown passes. He powered the Packers to an NFC North title and a 13-3 regular-season record. He was named to his ninth Pro Bowl.

Favre skipped the Pro Bowl in 1997, 2001, 2002 and 2003 so it really wasn't much surprise that he skipped this year's all-star game in Hawaii.

The future Hall-of-Famer led the Packers to the NFC Championship game in 2007 after throwing for 4,155 yards and 28 touchdowns and compiling a 95.7 passer rating. The Packers ultimately lost to the underdog New York Giants, who went on to win the Super Bowl.

If Favre doesn't have a change of heart, his last pass will go down as an interception by New York's Corey Webster, setting up the Giants' upset win in overtime during the NFC title game.

A three-time NFL MVP, seven-time All-Pro and nine-time Pro Bowl selection, Favre was known as the ultimate gunslinger, often taking chances that resulted in big plays and endeared him to a national audience that regarded him as one of the toughest and grittiest players in league history.

He has completed 61.4 percent of his passes for 61,655 yards and 442 TDs over 17 NFL seasons, the last 16 of which were played in Green Bay after the Packers acquired him from the Atlanta Falcons.

Word of Favre's retirement broke when Fox Sports reported on Tuesday morning that Favre informed the team in the last few days of his decision. ESPN.com said that according to Favre's agent, the quarterback told head coach Mike McCarthy of his decision.

Shortly thereafter, Brett Favre's brother, Scott, told WISN-TV in Milwaukee that Brett would retire. Scott Favre said that his brother told him it would be hard to duplicate last year.

"We're sad, but we're happy. Life goes on. The people of Wisconsin have been great," Scott Favre said.

Al Jones, longtime Brett Favre friend and writer for the Biloxi Sun Herald told WISN-TV that he thought he had made up his mind probably before the Super Bowl, but then started fluctuating back and forth.

Agent: Packers Didn't Force Favre To Retire

Favre's agent Bus Cook said that nobody from the Packers organization told Favre that it was time to retire.

Cook said that there wasn't a lot of encouragement for him to stay.

Cook, speaking from his Hattiesburg, Miss., office, said that Favre told him that he was tired. He said that he spoke to Favre on Monday night and he informed him of his decision.

Favre's Hometown Quiet On Day Of Announcement

News of Favre's retirement has the sports world buzzing, but in his hometown of Hattiesburg, Miss., there was only a quiet buzz among locals who showed little interest in disturbing Favre and his family Tuesday.

There was nobody setting up makeshift signs honoring the Green Bay Packer quarterback and no groups of curious onlookers near his farm just west of Hattiesburg on Tuesday.

A woman who works on the 460-acre property said Favre spent the day accompanying his youngest daughter, Breleigh, on a field trip to the state capital of Jackson.

In town, residents said they're saddened by the thought of no longer spending Sunday's watching the freewheeling quarterback who played his college ball at Southern Mississippi in Hattiesburg. Southern Miss retired Favre's No. 4 in 1993, making him just one of two Golden Eagles with that honor.

Lance Armstrong Speaks About Favre's Retirement

In Madison on the day of Brett Favre's retirement announcement, cycling legend Lance Armstrong said that Favre is one of the athletes that he has the most respect for.

After a downtown rally in support if a statewide smoking ban, Armstrong spoke with reporters, joking that he'd wished Favre had waited on the announcement because of their event.

Armstrong called Favre an "iron man," and said he could understand how it felt to step down from a sport you love after many years. Armstrong retired from racing after 14 years, and winning the Tour de France seven times, WISC-TV reported.

"If people said to me who are the athletes you respect the most, I would tell you that I respect Andre Aggasi and Brett Favre the most," said Armstrong. "Because they were guys that played through pain, played through misery, played through all these other sacrifices and consequences of their sport."

He also said he had great respect for Favre and his wife for going public for Deanna Favre's battle with breast cancer.

"Just the fact that she was brave enough and he brave enough to stand up as her husband and tell the world about her disease, it's not easy to do that," said Armstrong. "But they were public and that's the thing that we look for in the fight against cancer is people who want to be public cancer survivors. And obviously, the more famous you are, the more people know and they were heroes there."

Wounded Army Officer Has Last Ball Thrown By Favre

The ball that Favre threw on his last play in the NFL is owned by an Army officer who lost both legs in a roadside bomb in Iraq.

Lt. Col. Greg Gadson was an inspirational figure for the New York Giants during their Super Bowl run. Giants cornerback Corey Webster gave Gadson the ball after he intercepted Favre's pass in overtime in the National Football Conference title game on Jan. 20.

The pick set up a game-winning 47-yard field goal by Lawrence Tynes in a 23-20 win that sent the Giants to the Super Bowl in Phoenix, where they beat the New England Patriots 17-14.

Gadson says the day before the Super Bowl, he told Webster he could have the ball back but Webster said he wanted Gadson to keep it. As a fan, Gadson said he is going to miss watching Favre play.

Rodgers To Take Quarterback Reins?

The Packers will now look for Aaron Rodgers, a former first-round pick out of California, to take over the reins of the team. Rodgers has had few opportunities to play since being taken with the 24th overall selection in the 2005 draft.

Web Site Prematurely Announced Retirement

Just last week the Packers' official Web site briefly reported that Favre was retiring, but the page under the breaking news section was live for only a few minutes.

"There's nothing to it," Packers spokesman Jeff Blumb said after the posting. He said that people who handle the Web site had set up a "dummy" page in the event Favre was to retire.

Stay tuned to WISC-TV and Channel 3000 for continuing coverage.