Los Angeles Lakers guard Kobe Bryant should be remembered as one of the NBA's greatest ever players, according to commissioner Adam Silver.

Bryant, 37, announced on Sunday he would retire at the end of the season, his 20th in the NBA.

A five-time NBA champion and 17-time All-Star, Bryant is also the third top-scorer in the league's history – behind only Kareem Abdul-Jabbar and Karl Malone.

In a statement, Silver said the Lakers veteran deserved to be considered among the game's greats.

"With 17 NBA All-Star selections, an NBA MVP, five NBA championships with the Lakers, two Olympic gold medals and a relentless work ethic, Kobe Bryant is one of the greatest players in the history of our game," he said.

"Whether competing in the Finals or hoisting jump shots after midnight in an empty gym, Kobe has an unconditional love for the game.

"I join Kobe's millions of fans around the world in congratulating him on an outstanding NBA career and thank him for so many thrilling memories."