A persistent achilles injury has kept the 32-year-old midfielder off the field for 17 weeks, and ultimately forced the Lions co-captain to end his 15-year career.
Flanked by coach Leigh Matthews, and watched by the entire Lions playing squad, Lappin told reporters in Brisbane he was disappointed to end his career in such a way.
"It's hard not to live in the moment, and for me at the moment I haven't been able to get what I want out of footy," a composed Lappin said.
"So at the moment I'm sort of frustrated; I have been frustrated by what has happened this year.
"But my career as a whole has been really successful."
Lappin, a 279-match veteran, was a vital part of the midfield machine that drove the Lions to three consecutive premierships from 2001.
He was named the Lions' best and fairest in 2004, and earned four All-Australian selections.
Lappin admitted his bad run with injuries, including an ankle reconstruction in 2006 that forced him to miss the entire season, had taken its toll.
"Mentally I was a little bit tired," he said.
"I was waking up and not really looking forward to playing footy as I had in previous years, and you just get the feeling it is time."
The Victorian said would remain part of the Lions squad until the end of the season, before taking a few months off to contemplate his future.
