Tierney was signed in the summer of 2013 by then Wanderers boss Dougie Freedman but has not played since September of that year having suffered a leg and ankle break in a clash against Yeovil.
Despite four operations on the problem, which involved reconstructing the ligament, a surgeon has determined Tierney’s injury is a “permanent total disability” and he will not be able to play again.
The defender told the club’s official website: “I’d like to place on record my thanks to the backroom staff, manager and chairman, who have all been brilliant in helping me in the best possible way.
“I would really have liked to have played for this manager, but unfortunately it hasn’t worked out that way.
“The club have been kind enough to allow me to still come in for physio, so my treatment is still ongoing. I want to get to the point where it doesn’t affect me in my normal life, a recreational ankle if you will.
“It’s obviously very disappointing, but I’ve got some great memories from my time as a player, from progressing up the leagues to playing in the Premier League. Of course, I wanted to help Bolton get back there, but it just wasn’t to be.”
Tierney, who includes Oldham, Shrewsbury, Colchester and Norwich among his former clubs, made nine appearances for Bolton in total but all of those came under Freedman before current boss Neil Lennon arrived.
Lennon added: “Everyone is gutted for Marc. Since we came through the door his attitude has been superb, but unfortunately it just isn’t to be.
“We of course wish him well in whatever he decides to do going forward and he’ll always be welcome back at Bolton.”