The Dutchman leaves San Siro after a decade with the Rossoneri, where he won two Champions League crowns and two Serie A titles during his time at the club
The 36-year-old's role in the squad had diminished in 2011-12, and with his contract set to expire, coupled with his interest in a move to Brazil, an exit appeared to be on the cards for some time.
Speaking to reporters in Via Turati while accompanied by vice-president Adriano Galliani, Seedorf reflected on his 10 years at the club, admitting that Milan will remain in his heart forever.
"I leave [Milan] after 10 fantastic years, I came here at a crucial moment in my career and after thinking long and hard, I'll do the same thing again.
"I'll have to evaluate my options now and look for a project that stands out. I am very happy with the way I lived my experience at Milan.
"They were busy years, many seasons have passed by quickly, like all the good things in life. I thank the president [Silvio Berlusconi]. Adriano Galliani, the staff and the people of Milanello. I hope to greet all the fans with dignity when the time comes.
"I've been here 13 years and had two children born here: there will always be a special bond, especially with the city of Milan.
Seedorf went on to say that nothing has been decided as to where his next destination lies, but is confident Milan will enjoy more success in the coming years despite relinquishing its Serie A title to Juventus.
"I think I will play for two more years, but now it is pointless to think about the next steps of my life," he said.
"There was nothing premeditated, I had not decided anything until a few days ago; the choice of leaving AC Milan came about only recently. The relationship is such that we would still have found a renewal agreement.
"I always think about the future, I like new experiences, the club has always enjoyed a peaceful atmosphere.
"I leave a team, struggling to remain competitive in Italy and Europe, at a difficult time for everyone in the economy.
"I think it's only a matter of time before the team a few years ago is reborn. Generations pass by, but AC Milan will stay at the top everywhere."
As for Zlatan Ibrahimovic waiting to occupy his No.10 shirt, Seedorf replied: "I'm happy to give my jersey to Ibra, he has the talent to honor it.
Seedorf joined the Rossoneri in 2002 from city rival Inter and quickly became an important member of the squad, going on to make 300 Serie A appearances for the side.