World Triathlon president Antonio Arimany paid tribute to Brownlee, saying his legacy will “live as long as the sport itself”.
“Alistair’s contribution to the world of triathlon over more than two decades is immeasurable,” said Arimany.
“He is a true icon of our sport and he will inspire generations to come of young triathletes from all around the world.”
Brownlee’s first Games came in 2008 in Beijing, where he finished in 12th place.
It wasn’t until 2012, when Brownlee won gold on home soil, that he captured a legion of fans.
Having been in school when London was awarded the 2012 Games in 2005, Brownlee took gold seven years later by beating Spanish rival Javier Gomez by 11 seconds.
Alongside his brother Jonny, who took bronze in London, Brownlee has taken the sport to new heights, the pair competing against one another on the world’s biggest stages.
Shortly after London 2012, the brothers launched the Brownlee Foundation, a charity aiming to inspire children from all backgrounds to take up the sport.
In 2016, Alistair helped Jonny over the finish line at the Triathlon World Series event in Mexico after he’d started to wobble on the home straight.
Jonny, two years younger than Alistair, was leading the race when his legs started to give way in the Mexican heat.
Alistair, who was in third position at the time, propped his brother up for the final 700m and helped him over the line to finish ahead of him in second place.