Spanish midfielder Guti, who won the Champions League on three occasions and five La Liga titles with Real Madrid, has retired from football.
Former international Guti, 35, made almost 400 first-team appearances in almost 25 years at the Bernabeu but has been without a club since leaving Besiktas in November.
Guti joined the Turkish club in 2010 after being deemed surplus to requirements by Madrid and won the Turkish Cup in his first season at the club.
"The decision has been made," Guti said in statement on Marca.com. "I have received offers but I've decided to stop. I can now spend more time with my family.
"I'm going to train to become a sporting director or a coach and I'd like to train youngsters.
"I'd really like to coach the Real Madrid youth team. That's my dream."