The former Real Madrid star had been rumored to be unhappy at the Inonu Stadium, and the Istanbul-based side have now moved to end his association with the club
The 35-year-old joined the Istanbul giants in the summer of 2010, having been released by the Santiago Bernabeu outfit.
However, disciplinary problems soon followed, while the former Spain international was reported to be unhappy at being left out of the side this season.
Over the international break, Guti returned to Spain, citing personal reasons, but failed to report back to Istanbul for training this week.
Besiktas have now moved to terminate his contract and will pay him around 1.3 million euros - just under half his annual salary.