The 28-year-old made 17 league appearances for us last season but was unable to sustain a regular first team place in the second half of the title-winning campaign.
Manager Paul Cox said: "We initially sat down with 'Ex' before he was set to go away on holiday but decided not to renew his contract.
"He has served us well in the past two seasons and we wish him well for the future."
Meanwhile, the manager has been in talks with a number of potential signings in the past week, and will continue discussions over the forthcoming days. Supporters will hear more from the manager early next week following his weekly press meeting.