Kaka and AC Milan have reached a mutual agreement regarding the termination of the Brazilian's contract.
Kaka, 32, returned to Milan for the second time his career following an dispiriting four-year spell at Real Madrid. The 32-year-old scored nine goals in 36 appearances last year, but failed to rediscover the form that transformed the Brazilian into one of the best players in the world.
“Milan announces that it has terminated its contract with Kaká by mutual agreement today,” according to the club's statement.
The Brazilian's won a Serie A and Champions League crown, while scoring 104 goals during his two-year spell with the Rossoneri.
It's been reported that Kaka is set to make a move to join MLS expansion club Orlando City SC.