The 41-year-old Italian legend played 25 matches throughout the season to help his side win Ligue 1 and the French Super Cup.
Gianluigi Buffon is leaving Paris Saint-Germain after one season with the club.
The 41-year-old former Italy worldwide started 17 of PSG's 38 league matches, with Alphonse Areola more frequently the preferred option of head coach Thomas Tuchel. "We wish you the best for the future", PSG wrote on Twitter about the veteran goalkeeper.
Buffon has been linked with a return to formative club Parma, as well as the goalkeeping coach role with Juventus.
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Buffon, who was capped 176 times by Italy in a 20-year worldwide career, said that the experience in Paris had helped him grow as a person. Today onwards, this will also apply to me: "Paris, in some way, will always remain my home", he wrote in a statement published on PSG's website.
The goalkeeper is perhaps the club's only world-class player in an otherwise rather average squad yet he's been allowed to run down his contract. "Paris Saint-Germain offered to renew my contract but I did not accept, driven by the desire to face new experiences", he said on Instagram, per Goal.
The Spain worldwide has been linked with a possible move to the French capital either this year or on a free transfer in 2020 if he does not extend his Manchester United contract.