The all-time games record-holder for the Hawks (and 4th all-time in the NBL), Saville made the decision retire after he was diagnosed with a serious knee injury earlier this week.
The 37-year-old had indicated this would be his final NBL season, with the injury suffered in Round 16 against the New Zealand Breakers bringing forward his decision.
Basketball Australia Chief Executive Officer Kristina Keneally thanked Saville for his brilliant contribution to Australian basketball both in the NBL and internationally.
“Glen will go down as not only a Wollongong Hawks legend, but as one of the true greats of the NBL,” Ms Keneally said.
“Throw in two Olympic Games as part of the Australian Boomers team and there is no doubt Glen will be remembered as one of the premier players of his generation.
“The career of Glen Saville is testament to the belief that you can play domestically in the NBL and still be a major part of the national team program.
“I know I speak on behalf of the basketball community in congratulating Glen on an amazing career and wish him well in his recovery, and in the future.”
Saville enjoyed an amazing NBL career, playing all but one season with Wollongong since making his debut in 1995 – retiring the all-time leader in no fewer than 10 categories, including games (523), points (6865) and rebounds (4041).
The Bendigo native and AIS graduate also excelled on the international stage, representing the Australian Boomers at the 2004 Athens Olympic Games and 2008 Beijing Olympic Games.