The former England international has spent three years at the club and will be fondly remembered by United fans for his injury time winner in the 4-3 derby win over Manchester City in his first season.
"The manager informed me after our testimonial match on Tuesday that the club would not be offering me a new contract," Owen revealed on his Twitter account.
"I have loved every minute of the 3 years I have spent at such a fantastic club. I would like to thank the players, staff and fans for their support and wish them well for the future."
Owen went on to say that he'll take a break before deciding on what to do in the future.
"I now plan to have a short holiday during which I will contemplate my next move."Follow GOAL.COM USA on