Paralympic sprinter Liam Malone, one of New Zealand's most colourful sporting stars, has announced his retirement.

Malone, 24, who won two golds and a silver medal at the 2016 Rio Paralympics with spectacular finishes, confirmed the news on Tuesday.

He released a statement saying he lacked motivation to continue.

HAGEN HOPKINS/GETTY IMAGES Liam Malone on the blocks at the Rio Paralympics before his gold medal 400m run.

Malone, who was raised in Nelson, will take up a corporate job with Soul Machines.

READ MORE:

* Liam Malone graduates from university

* Emotional Malone pays tribute to mum

* Experts warn against using medication too early

* The fear of passing anxiety down to your children

"Over the last month I have been reflecting on my position and I have made the difficult decision to retire my running career effective immediately," Malone said.

"External events both in and out of my control have taken a toll on my training in the last month and I don't feel I have the emotional investment or necessary focus and energy to succeed at the highest level in Tokyo.

"Becoming an elite athlete was an incredible journey but life is short, I want to find something that I can commit to and be happy in for a long time. It would be unjust to commit half-heartedly to those who support me, my coach, the supporting organisations, the New Zealand public, sponsors, my friends and family."

HAGEN HOPKINS/GETTY IMAGES Liam Malone celebrates after winning gold in the men's 400m T44 final at the Rio 2016 Paralympic Games.

He told Newshub there were "multiple factors" in play.

"One is that there's been some rule changes within the Paralympics regarding the blade we compete on," he said.

"Those changes are going to be quite significant and basically reduced my confidence that I will be competing on the same playing-field."

MARION VAN DIJK/Stuff.co.nz Para-sprinting champion Liam Malone is welcomed home to Nelson after the 2016 Paralympics in Rio.

He said trying to balance various aspects of life had hampered his development as an athlete.

"Running for me was always a stepping stone to go on and do other things," he said.

"I got so many things outside of running going on that it meant that it had come at a cost of my training."

CAMERON BURNELL/STUFF Liam Malone in the Victoria University graduation parade. He has a degree in in marketing and international business.

An eloquent speaker, he was a popular figure at sporting functions, especially with school students who could identify with his struggles.