"Misimovic is leaving and transferring to Galatasaray with immediate effect," Wolfsburg said in a statement.
The 28-year-old had been pushing for a transfer following the signing of Brazilian midfielder Diego from Juventus last week.
Misimovic had joined Wolfsburg in 2007 and was part of the team crowned Bundesliga champions in 2009.
"We thank him for his performances and wish him success," said Wolfsburg manager Dieter Hoeness.
The creative midfielder scored 17 goals in 65 league matches for Wolfsburg.
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