Michael Del Zotto will hit the open market on Tuesday.
The Nashville Predators were unable to trade the defenceman ahead of the deadline to qualify restricted free agents and have decided to allow him to become an unrestricted free agent.
The Predators acquired the 24-year-old in January from the New York Rangers in exchange for defenceman Kevin Klein.
Del Zotto scored three goals and added 13 assists in 67 games with the Predators and Rangers this season.
In 317 career NHL games, the left-handed shooting blueliner has scored 27 goals and 126 points.
Del Zotto was drafted in the first round - 20th overall - by the Rangers in 2008.