Peruvian striker Claudio Pizarro will leave Werder Bremen on the expiry of his contract this summer.
Pizarro has activated an option to terminate his deal a year early, and the 33-year-old announced he is keen for another challenge before retiring.
"It was a difficult decision because I love this team and the club, but I would like to do something new at the end of my career. I can't yet say what that will be, but I have several propositions that I have to consider,'' Pizarro said on club's website.
Pizarro enjoys the distinction of being the leading non-German goalscorer to grace the Bundesliga, with 160 goals in 333 appearances - 89 of them for Bremen across three stints since first signing for the club in 1999.
Bremen director of sport Klaus Allofs said: "Three times we had managed to convince him of Werder, a fourth time was not possible. We regret it very much, but are glad that finally a decision has come and we thank Claudio for a great time together.''
Bayern Munich are thought to be tracking the availability of their former player, who made nearly 200 league appearances for the Bavarian club between 2001 and 2007.
Pizarro signed off from Bremen on a personal high with two goals in their 3-2 defeat to Schalke on the final day of the season, and coach Thomas Schaaf was happy that his future had been resolved so quickly.
"We must accept this decision. I would have liked to continue working with him, but it was important for Claudio to state his intentions,'' Schaaf said. "We are now planning for the upcoming season ahead and looking for attractive solutions.''