The 41-year-old announced earlier this week that he was calling time on his long Socceroos career and would not be a part of their World Cup 2014 squad.
Speaking to Sky Sports after Chelsea's UEFA Champions League win over Schalke on Wednesday night, Schwarzer said: "I feel really good, but mentally for me it was a big challenge and I knew it was the right time to move on, pass on the baton and let someone else take over.
"It was a great honour, and a great pleasure. I've played for the Socceroos for 20 years so obviously it's a huge part of my life full-stop - not just my career, but my life.
"I've had some unbelievable times, times that I'll cherish for the rest of my life. To have dreamt as a kid to play one day for your country, let alone to stand here and say I've played 109 times spanning 20 years, I have to pinch myself."
New Australia coach Ange Postecoglou, who has taken over from the sacked Holger Osieck, initially named Schwarzer in his first squad for the friendly against Costa Rica next week.
However, he will now decide between Borussia Dortmund's Mitchell Langerak and Club Brugge's Mathew Ryan to keep goal at the Allianz Stadium in Sydney.