Mascherano made his international debut in 2003 and went on to appear a record 147 times for the Albiceleste. He played 334 times for Barcelona before leaving at the end of last season for China to join Herbei China Fortune.
A little while later, fellow midfielder Lucas Biglia announced that he would also "step aside."
"We are leaving with sadness because for some, it is the end, and it is not the way we wanted. I hope that those who come [into the team] can work with tranquility and take Argentina where it deserves," he told TNT Sports.