Watch Tarrant speak for the first time about his decision to depart the game on Tuesday night's episode of The Club in the media player above.
The 31-year-old told his teammates on Monday after training that this season - his 15th - would be his last.
He said he was conscious of not playing into a season he would regret.
"I've been around for a while and you do see people hang on a little bit too long … and play that extra year where they shouldn't have and end up playing in the reserves and resenting football a little bit," Tarrant told The Club on Tuesday night.
"I'm still loving football and loving being around the club and I thought this year I could end up playing hopefully in another successful finals series."
After an injury-plagued year that started with foot issues in the pre-season and has seen him miss games because of a calf problem and most recently, shoulder soreness, Tarrant hinted last week he was leaning towards retirement.
He told a few of his closest friends at the club ahead of Monday's team announcement, but still caught a few off guard when he addressed the group.
"I think a couple of people were surprised but I've always thought if I could go out on my own terms that would be the way I'd like to do it," he said.
"We gathered everyone up from the masseurs and the physios and the guys who have been around the club for awhile.
"I always take my seat next to Dayne Beams in the auditorium and he whispered to me, 'Something's going on here, why is everyone down here?'
"Then 'Bucks' said, 'Tazza, come up and say a few words and I spoke to the guys and held it together quite well.
"It’s tough to do. It's been a long ride; 15 years is an incredibly long journey."
Tarrant has played 263 AFL games, including 72 for Fremantle between the years of 2007 and 2010.
He returned to the Pies, the club he started his career with in 1998, for the 2011 season in pursuit of that premiership.
He has returned to the forward line in the second half of this season and has kicked five goals since his shift into attack.
Last week, he told the Pies' show he was aware the end of his career loomed but his motivation to play in next month's finals series burned strongly.
"I'm almost 32 next month and obviously this season hasn't helped my chances of pushing forward towards that contract but all I really have to concentrate on is the next four games and the finals," he said.
"It's really all that matters to me at the moment, I suppose, playing that premiership.
"It's something that's eluded me for so long that I'm striving for still to this day. That's what my main aim is at the moment and the rest will look after itself in time."
