The long-serving defender, the first product of the club's youth academy, has parted company with Victory and will be seeking a new employer ahead of the 2013-14 campaign
Melbourne Victory coach Ange Postecoglou continues to make changes to his squad, with fringe defender Matthew Foschini released from the final year of his contract on Thursday.
Just 24 hours after announcing the signing of Kiwi international Kosta Barbarouses, Victory decided they no longer required the services of Foschini.
The 22-year-old came through the club's youth system to make his debut against Perth Glory in 2009 and has since made 42 appearances for the Victory, without scoring a goal.
Foschini posted a message on Twitter on Thursday afternoon to show his appreciation to Victory for giving him a chance.
"It's been a great 5 years for me at Melbourne Victory," Foschini tweeted.
"Would like to thank everyone who I have ever worked with at the football club."
Postecoglou meanwhile thanked Foschini for his contributions to the club in a statement.
"Matt has been a terrific clubman during his time at Melbourne Victory and a very popular figure amongst the playing group," Postecoglou said.
"From our perspective it was not an easy decision to let him go, but our feeling was that Matt was at a stage where regular first team football was a priority.
"We wish him all the best for the future."