'Lots of runs still in him'
"I get the feeling that the burden of captaincy in recent times may have been weighing heavily on his mind. The fact that he's given up the captaincy might just bring him up to play some of his best cricket over the next couple of years."
Allan Border, the former Australia captain, says there was too much pressure on Ponting
"I cannot remember the last time that an Australian captain didn't captain the side but continued on and played as well."
Former Australia fast bowler, Brendan Julian, on Ponting's unusual choice to play on
"We've seen guys like Sachin Tendulkar probably being in the best form of his career probably into his late 30s, and Ricky's still very fit and obviously very hungry, so he's got a lot to offer just as a player, and as a backup to Michael Clarke with regard to tactics and bringing younger players on."
Mark Waugh thinks Australia still have much to gain from Ponting's presence in the side
"Respect to Ricky Ponting.. Never easy giving up something that you love doing.. Lots of runs still in him though.. Bowlers beware."
Michael Vaughan, the former England captain, tweets supporting Ponting's decision
"He'll play a very significant part in the rebuilding of Australian cricket and is handing it over at an appropriate time to his successor."
Cricket Australia's cricket general manager Michael Brown says Ponting still has a lot to offer Australian cricket
"He's our greatest batsman after (Don) Bradman... I think all of us would wish him well in whatever he chooses to do for the balance of his life."
Australia's Prime Minister Julia Gillard joins in the tributes
"On countless occasions he has carved an innings of strength to truly lead from the front on the big stage and was an inspirational figure to play under."
Australian Cricketers' Association president Michael Kasprowicz on his former captain and team-mate
"His leadership as captain has been outstanding and I sometimes think his brilliance with the bat has overshadowed his fine work as captain."
Jack Clarke, the Cricket Australia chairman, reckons Ponting's leadership skills often got overlooked due his batting
"Those close to the team know his true worth in guiding his players and setting a personal example of commensurate professionalism, particularly in recent years following the retirement of so many greats of the game."
Kim Hughes, former Australia captain, acknowledges the crucial role played by Ponting in tough times for Australian cricket