Five-time World Player of the Year Lionel Messi has announced his retirement from international football on Sunday after Argentina crashed to an upset penalty-shootout defeat against Chile in the final of the Copa America.

"For me the national team is over. I've done all I can, it hurts not to be a champion," the 29-year-old Barcelona superstar told reporters after his fourth defeat in a major final with Argentina.

"It's a hard moment for me and the team, and it's difficult to say, but it's over with the Argentina team."

Messi's dramatic announcement followed Argentina's third loss in a major final since 2014. Defender Javier Mascherano has also reportedly followed Messi into retirement.

They were beaten 1-0 by Germany in the final of the World Cup in 2014 and lost on penalties, also to Chile, in the final of the 2015 Copa America. Messi also tasted defeat with Argentina in the final of the 2007 Copa America.