Director of Football Steve Simms said: "This is great news for the Club. Malcolm is a highly respected professional, game-wide, and his reputation at Salford and beyond is thoroughly deserved.
"It can be tough for a player to adapt to a purely coaching role at first but this is for Malcolm's long-term future in the game. We see him as a potential future Head Coach. Obviously there is a lot of water to go under the bridge before that point but that is what everybody is aiming for."
Alker is currently carrying a back injury and won't face Hull KR this weekend but is already looking forward to the task in hand.
"I have been with this Club for my entire professional career. It is a part of me and runs through every vein in my body. We are already building for a great campaign next season with the signings the Club has made already," he said.
The Reds are busy strengthening their playing roster ahead of the final season at The Willows and have so far signed Luke Patten (Bulldogs), Chris Nero (Bulls) and Vinnie Anderson (Wolves) and are expected to announce further signings in the near future.
Sadly I think this retirement will be overshadowed by Keiron Cunningham's but Malcolm deserves his own send-off. Never really had a look in but always a tireless worker. Enjoy coaching!