The 31-year-old, who was in his last year of contract at the Madejski Stadium, scored 28 goals during his three-year stay with the club but has opted to return to Russia.
Royals manager Steve Clarke said: "In the second half of last season Pavel was a key player in my team and made a vital contribution.
"His work rate and commitment to Reading FC were a big plus for me. Now he has the opportunity of a great move back to Russia, I can only thank him for his efforts and wish him well for the future."
Director of Football Nick Hammond added: "We have been in discussions with Dynamo over the last couple of weeks, this move represents a good opportunity for Pavel to move back home.
"I would like to place on record that Pavel is a true gentleman, he always gave his best for Reading Football Club and we wish him well."
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