His county career included spells with Kent, Northamptonshire and Leicestershire.
"It is with a heavy heart that I am announcing my retirement from international and professional cricket," said O'Brien, who has played much of his career alongside his younger brother Kevin.
"I have been blessed to have been lucky enough to have represented my country for 16 years with plenty more ups than downs and for this I look back with nothing but smiles and laughter."
Cricket Ireland performance director Richard Holdsworth said O'Brien had been symbolic of the rise of Irish cricket.
"While he had many more achievements throughout his career subsequent to this, it is the part he played in that win that etched him into the Irish sporting psyche and something he should be justifiably proud of.
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