Boucher has already quit international cricket following the injury last month and said he was unlikely return quickly, or even at all, to the professional game after undergoing a series of operations.
The 35-year-old, who played in 147 Tests and completed a world record 555 Test dismissals, suffered a lacerated left eye after being struck by a bail during the Proteas' warm-up match against Somerset in England last month.
"It is unlikely that I will play any professional cricket again in the near future, which is very unfortunate as I was looking forward to contributing as a player for the Cobras," he said in a statement.
"The risk of additional damage to my left eye or even damage to the other eye doesn't warrant it."
He added: "It has been a difficult time for me mentally and physically.
"I have lost the lens, iris and pupil in my left eye. There was severe damage to my retina... physically, at times, I have been in a lot of pain.
"I accept that the healing process is a long one and that attaining some vision in my left eye will take some time and a lot of patience.
"Injuries happen and this could have happened earlier on in my career.
"I am incredibly grateful for the length of career that I have had and the amazing things I have experienced and people I have met during that time. This is just another challenge in my life and something that I will be working to overcome.
"It does get uncomfortable at times and being a sportsman, I want to be active and outdoors but, without a pupil, I find any amount of sunlight very harsh and have thus been restricted to the confines of my home."
Boucher said that he was in the process of setting up a non-profit company which will help in the fight against rhinoceros poaching in South Africa and Africa.
He has also started a wine label with his friend, South Africa all-rounder Jacques Kallis.