Striker Teddy Sheringham will leave Portsmouth after the last game of the season against Middlesbrough on Saturday, reports BBC Radio Solent.
Sheringham's form has dipped
The Premiership outfit have decided not to offer the 38-year-old a new deal.
Sheringham has struggled for fitness and form since scoring six goals in his first nine starts.
He said: "The club have decided to move on - and I've got no problem with that whatsoever. I'll have to see what offers come in and go from there."
Sheringham has been pushed on to the Pompey bench following the arrival of Lomana LuaLua, who has forged a promising partnership with Aiyegbeni Yakubu.
But the former Tottenham and Manchester United forward is hopeful he can carry on
playing in England's top flight.
"I'll have to wait and see if a team comes in who think I can play in the Premiership," he said.
The former England international is also being linked with an offer to play football in Qatar.