The 27-year-old striker struggled to break into the Les Rouges et Noirs starting line-up this season. In fact, he failed to make a single appearance in the Ligue 1.
Gourcuff gave the former SuperSport United striker a chance to establish himself at the beginning of the following season, but Erasmus featured in eight games without finding the back of the net.
Rennes then decided to loan out the diminutive forward to Ligue 2 side Lens midway through the 2016/17 season.
Erasmus enjoyed regular game time at Lens, scoring once in 12 official appearances.
While Lens were reportedly keen to retain the former South Africa under-20 international the following season, Rennes took him back at the end of his loan stint.
The club has since decided to part ways with Erasmus, and released an official statement confirming the news.
"Stade Rennais FC and Kermit Erasmus have early terminated the contract that bound them since January 2016," read the statement.
"The player is therefore free of any commitment. The Rouge & Noir wish him every success and happiness for the rest of his career," concluded the statement.
Le Stade Rennais F.C. et Kermit Erasmus ont résilié de façon anticipée le contrat qui les liait depuis janvier 2016.— Stade Rennais F.C. (@staderennais) February 8, 2018
Le joueur est donc libre de tout engagement.
Les Rouge & Noir lui souhaitent une pleine réussite et beaucoup de bonheur pour la suite de sa carrière. pic.twitter.com/Vr3KStyyOC