"I've quit because I can no longer win top races," Van Hooydonck said on Tuesday. "It's not so sudden, I'd been toying with the idea for a while," he added.
Van Hooydonck, who rode for the Dutch Rabobank team, finished 93rd in last month's Milan-San Remo World Cup race and 26th in the Tour of Flanders earlier this month.
Other victories include the Grand Prix Eddy Merckx time trial and Ruto del Sol race in 1988 and Kuurne-Brusssels-Kuurne in 1989.
The Dutch professional cycling team Foreldrado-Golff has signed two riders from their amateur team of the same name; Davy Dubbeldam and Michael van der Wolf.
The 25-year old De Wolf won the Zuiderveldtour this season and 24-year old Dubbeldam won the hilly 6th stage through the Belgian Ardennes in the Teleflex Tour.
They will make their professional debut in the Ronde van Midden-Zeeland, May 4.