According to Eintracht Frankfurt's official website, club president Heribert Bruchhagen and head coach Friedhelm Funkel have accepted Takahara's request to leave the team.
The 28-year-old will now be free to return home to Japan and join Urawa Reds.
He is set to return home this weekend and is expected to officially sign his deal with Urawa after a medical check-up next week.
"I'm very glad and relieved," said Reds general manager Shuzo Nakamura after learning of Takahara's release.
"He will be a key player for our team in the new season."