Werder Bremen have confirmed that striker Claudio Pizarro will leave the club after they declined to extend his contract.
The Bundesliga club have opted against offering the 38-year-old a new one-year deal in order to allow younger talents the chance to progress into the first team, according to sporting director Frank Baumann.
The Peru international will be granted a farewell match to mark his service to the club.
"We signalled to Claudio in the middle of May that we would probably not extend his contract," Baumann told Bremen's official website.
"We've incorporated many different aspects into our decision. Because of the great competition in attack and the young talent whose development we don't want to block, we have decided not to extend Claudio's contract."
He added: "Claudio is a legend and he will get the best possible farewell for a player at Werder Bremen: his own farewell game. This honour has only been shared by a few Werderans so far."
Pizarro admitted he was disappointed not to be given another season at Weserstadion.
"It was always a great honour for me to wear the Werder Bremen shirt," he said. "The club, the city and the fans will always have a special place in my heart.
"I would have liked to play for Werder but I accept the club's decision."
The club added that Pizarro wants to continue playing for at least another year.
Pizarro only managed one goal in 19 appearances last season after struggling with injury in the early weeks of the campaign.
The former Bayern Munich forward has had three spells at Bremen and helped them to win the DFB-Pokal and DFL Supercup in 2009.