The former England international striker has fallen out of favour with the Foxes, making just 13 appearances in the 2011-12 season after suffering from knee ligament damage
The 31-year-old, signed in 2010 by then-manager Sven-Goran Eriksson, has been forced out of the team by a knee injury that he suffered against West Ham back in November.
|GET HIM ON THE PLANE?|
|5.50||A Vassell-less England are 5.50 with 188Bet to finish bottom of Euro 2012 Group D|
"The club would like to place on record its thanks to all six players for their hard work and professionalism in City blue, and wish them well in the future," a club statement read.
Vassell made 44 appearances for the Championship outfit, scoring a total of six goals.