Chris Spencer has today been released by the club.
The 19-year-old, who had not made a senior appearance for the Stags, has spent time on loan in non-league at Mickleover and Carlton Town this season.
Mansfield Town manager Adam Murray said: “At this moment in time, we feel Chris is not ready to affect the first team squad and has therefore unfortunately left the club.
“As Chris was on a six month contract, and in fairness to both the club and Chris, we felt it right at this time of the season that he should pursue his football career elsewhere.
“We thank Chris for his efforts whilst with the club and wish him well in the future.”