Peterhead boss Jim McInally said Conner McGlinchey had been ‘unlucky’ during his time at Balmoor after releasing the 20-year-old.
The left-sided player joined Peterhead from Hamilton last year but has struggled for form this season andhas not made an appearance since March 1.
On Wednesday afternoon McGlinchey tweeted: “Unfortunately won’t be at peterhead next season ,and wish them all the best! A very special club which has gave me best memories of my life!”
McInally said it was a difficult decision to let McGlinchey go but that keeping him would have been ‘selfish’.
He said: “Since he came to Balmoor Conner’s been really unlucky.
“We’ve won something like 34 games in the short time he’s been here and it’s really hard to break into a winning squad.
“He’s still at a development stage and at his age to be on the bench isn’t good.
“We don’t have a reserve team to get him game time.
“It would have been selfish for me to keep him as a squad player.”
It is possible McGlinchey could follow recently appointed East Stirlingshire boss Craig Tully to Ochilview.
Former Blue Toon coach Tully told the Buchanie earlier this month that he would consider taking on players released from Balmoor.
The Buchanie understands other squad members will be told over the coming days whether or not their contracts will be renewed by the League Two champions.