Majoro signed a pre-contract with the Buccaneers last month after refusing to sign an extension with AmaKhosi late last year
Majoro snubbed a few deals before signing a pre-contract with arch-rivals Orlando Pirates in January, but he was unable to join them at the time.
"Kaizer Chiefs and Lehlohonolo Majoro have reached a settlement to part ways and has been released from his contract," Chiefs said on their Twitter account.
This means Majoro is free to join a team of his choice as he is now a free agent, although moving to Pirates is more likely at this stage.
The former AmaZulu forward was told to stop training with his teammates at Chiefs after it was discovered that he had signed a pre-contract with Pirates.
Chiefs football manager Bobby Motaung publicly revealed that they will not destroy Majoro, and the 27-year-old hitman would be pleased to have finally left the Soweto giants having struggled to command a regular place in Stuart Baxter's starting line-up.
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