The 33-year-old joined the Turkish giants on an initial loan from PSG back in 2022 before making the move permanent a year later.
Icardi was a key player for Galatasaray over his four seasons at the club, scoring 77 goals and providing 23 assists in his 134 games across all competitions.
Following the arrival of Victor Osimhen, however, the former Argentina international fell down the pecking order, starting just 12 league games last season.
Galatasaray have now confirmed that Icardi has left the club as a free agent, releasing a statement saying: “Dear Mauro,
“Today, we are not speaking of separation, but of legacy.
“The fact that you no longer wear the Galatasaray jersey will not change the place you hold in our hearts. Because you have built a throne in the heart of every Galatasaray fan, from 7 to 70.
“The goals you scored, the goal-scoring titles you won, the records you broke, and the trophies you lifted are one thing; but you lived the Galatasaray passion and made millions experience it.
“You are no longer just someone whose name is written in golden letters in the club's history; you are a value that will live forever among Galatasaray's unforgettable legends.
“Dear captain, who made a generation Galatasaray fans—if children today take pride in saying "I am a Galatasaray fan," you have a great share in that.
“All Galatasaray fans know…
“A love like this is unforgettable.”