The 30-year-old announced his retirement after proving unable to make a full recovery from the serious knee problem he sustained while on loan at Birmingham City in 2016.
"This isn't something I ever thought I would have to write at the age of 30, but due to the injury I sustained I am unfortunately not able to continue with the job I love to do," Sky Sports News quotes Wiggins as saying.
"I have been battling for the last two years, doing everything possible to get back out there, but my knee just won't allow me to do so. I'm absolutely gutted on a number of levels."
Wiggins had three stints at Bournemouth while they were in League One, two of which were loan spells.
The defender rejoined the club on a permanent deal from Sheffield Wednesday in 2016 but did not make any senior appearances.