"There will be no Olympics in Vancouver for me next year," Sundin said in a story on the Web site of the Swedish newspaper Expressen.
The 38-year-old Sundin, who played for the Vancouver Canucks last season after spending most of his NHL career with the Toronto Maple Leafs, was one of Sweden's key players in the 2006 Turin Olympics. Sweden beat Finland in the final for its second gold since 1994.
"I will not change my mind," he told Expressen. "I think it's time that the next generation takes over. We have many good players."
Sundin is still pondering his future in the NHL and did not rule out playing another season with Vancouver.
"Absolutely," he said when asked if he might play again with the Canucks. "I will think about my future over the next couple of weeks. I will make a decision in the summer."