Rudd announced his retirement at the age of 31 because of a knee injury.
Rudd played for the club for three spells.
He had several operations on his knee to try to get him back to football.
"I've known for a while now so I've had a bit of time to let it sink in, but I wouldn't say I've quite come to terms with it," Rudd told the club website.
It is a big thing that was always a possibility but one I hoped wouldn't happen. I thought I had my best days to come, but unfortunately it has stopped too early.
Rudd will say goodbye to fans at the home game against Blackpool on Tuesday.
It will be nice to get back to Deepdale since I haven't had the chance to say goodbye to the players, the staff or the fans yet.
It will be nice to go back to Deepdale and thank everyone, but it is not a bad game to have as your last appearance.
Rudd made four appearances. He was forced off with concussion in the opening day defeat by Hull City and then made three starts in the Carabao Cup before his last game ended in a 2-0 defeat by the Reds.
He joined North End on a permanent deal in July of last year, after spending two loan spells with the club.
Ryan Lowe said he was gutted for him. It is disappointing for Dec to have to retire at the age of 31 because he can often go for forever and a day.
I am disappointed that I didn't have the chance to work with him because I believe he was a fantastic goalkeeper and I know I could have worked with him.
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