Juventus have terminated the contract of Lucio, just five months after he joined the club.
The veteran Brazil defender has made just four appearances for the Scudetto champions this season, after arriving on a free transfer from Inter over the summer.
The 34-year-old had previously expressed his frustration at a lack of playing time with the Serie A leaders, and has now seen his deal cancelled by mutual consent, leaving him free to consider a move to another club.
A statement on Juventus' official website read: "The adventure of Lucio in black and white has finished. The Juventus and Brazil defender has reached an agreement for the consensual termination of his contract.
"Arriving on a free transfer this summer, in recent months Lucio has made four official appearances for Juventus: one in the league, two in the Champions League and one in the Italian Super Cup in Beijing."
Bundesliga side Wolfsburg are one of the clubs rumoured to be interested in Lucio, who last month admitted he would seriously consider a return to Germany's top flight.