Rivaldo quits Sao Paulo as Leao extends stay
However, the former Barcelona, AC Milan, Deportivo Coruna and Olympiakos player said he planned to continue his career.
"I would like to inform everyone that as from Saturday, which will be my last training session, I will no longer be part of the Sao Paulo squad," the 39-year-old said on Twitter.
"The directors told me officially that I'm not continuing in the club next year."
"It's not my farewell from football as I still have a lot of wood to put on the fire, I plan to continue my career until the end of 2012."
Rivaldo, who joined the club this year after playing the previous three seasons in Uzbekistan, has fallen out of favour since former Brazil coach and goalkeeper Leao took over in October.
Leao, whose career has been littered with personality clashes, was given an extension despite an unspectacular start at the club.
"Although the results have not been very impressive for the time being, his day-to-day work has been very satisfactory," said the club on its website.