The 30-year-old started alone up-front in all six of Brazil's matches in the tournament but scored just once against Cameroon in the group stage.
The hosts crashed out of the semi-finals with a humiliating 7-1 thrashing at the hands of Germany, and the futures of their head coach Luiz Felipe Scolari and a number of players were subsequently called into question.
And Fred, after 15 goals and 33 caps, told Brazilian media: "For me, the Selecao is finished."
Frederico Chaves Guedes currently plays his club football with Fluminense of Rio de Janeiro, having previously played in Europe with Lyon.
He began his career with America Mineiro before moving to Cruzeiro in 2004 and then to France's Ligue 1 the following year.
Scolari, meanwhile, insisted any decision on his future would be down to the Brazilian FA after his team were also beaten 3-0 by Netherlands in the third-place play-off on Saturday - the first time since 1940 they have suffered successive home defeats.
He said: "It is up to the president to decide. We will hand in a final report and then leave it to him to analyse what needs to be done."
Goalkeeper Julio Cesar has also hinted he has played his last game for Brazil.
He is quoted by Globo Esporte as saying: "It's complicated when you are 35 years old. It would be selfish to play Copa América in 2015 without aiming for the World Cup 2018.
"The time has come for other goalkeepers, Brazil have six, seven or eight goalkeepers that are easily able to wear Brazil's national team shirt."