The 25-year-old, who injured his cruciate ligament last winter, announced his decision on Instagram.
"Skiing has given me an incredible amount. Being able to represent Sweden in major championships and being able to step on the podium is something I will carry with me for the rest of my life," Magnusson wrote.
Magnusson became the 2021 world champion in big air and has represented Sweden in two Olympic Games. At the 2022 Beijing Games, he was given the honor of carrying the Swedish flag during the opening ceremony.
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