Solskjaer will announce his retirement from football on Tuesday, according to Sky Sports News.
The 34-year-old has struggled with a series of knee injuries in recent years.
Solskjaer joined United from Molde for £1.5m in 1996 and has made 366 appearances for United, scoring 126 goals.
The Norwegian became an legend at United after scoring the winner in the Champions League final against Bayern Munich in 1999.
