"I know the time is right for me to step down," Bond said in a statement on Friday after arriving home from the World Twenty20 [ Images ] in the Caribbean.
"I have given it everything when playing for the Blackcaps.
"I dreamed of playing for New Zealand when I was six. The reality of what has unfolded was more than I could ever hope for and I have been extremely proud to represent New Zealand.
"I will miss the camaraderie because it has been a privilege to play along such a great bunch of guys who are so committed to do their best for New Zealand," he added.
Bond, viewed as one of New Zealand's best fast bowlers despite a career perennially hampered by injury, retired from Test cricket last December with 87 wickets at an average of 22.
The decision came after he sustained an abdominal injury during his first Test in two years against Pakistan in November that ruled him out for two months.
The 34-year-old also leaves the game with an enviable limited overs record, having snared 147 wickets at an average of 20.88 in One-day Internationals and 25 at 21.72 in Twenty20.
"For me personally it is a big loss I think he could still be a really good player for us for some time to come," New Zealand skipper Daniel Vettori [ Images ] said.
"But I know how much effort he puts in to stay on the park. He knows his body and he knows what he needs to do to prepare for international cricket. Sadly for us he has decided his time has come to an end," he added.