The striker, who has rarely featured in new coach Warren Joyce's starting line up, has not said where he is going.

But he is determined to play regularly so that he can impress the as-yet unknown Socceroos coach enough to ensure he is on the plane to Russia for a tilt at his fourth World Cup.

Cahill was in the second year of a lucrative multi million-dollar contract that was reportedly heavily front-end loaded. This was expected to be his last season as a player, as the third season of his contract was set to see him transition into a coaching role with the club.

The club would not comment on Wednesday on financial details of his departure.

Cahill has played just six games for City this season, five of which he has started from the bench and had reportedly fallen out with Joyce after dropping out of the starting line-up.

The move is a massive statement by City who, under Joyce, are determined to bring about major cultural change at the club.

Last month former assistant manager Michael Valkanis was dumped, and this month ex-Socceroo Tony Vidmar was recruited to be Joyce's number two.

It is believed that more fresh faces will be brough in during the January transfer window while some players may depart.

Cahill has been kept on the bench at Melbourne City this year through a combination of factors: he has been unavailable through Socceroos duties and Joyce has usually preferred Ross McCormack, the on loan-forward signed from Aston Villa.

With Bruno Fornaroli also expected to return from injury in the new year, Cahill's game time options would have been even more likely to be curtailed.

While the former Everton star, who turned 38 on Wednesday, might not have been a key part of City's plans, he played a major role in helping get the Socceroos to Russia. His two goals against Syria in the first Asian play-off ensured the Socceroos advanced to the continental play off against Honduras, which they subsequently won.

Cahill signed with City in August 2016 and has scored 13 goals for the club, most famously a 35-yard volley on debut against Melbourne Victory, which later won goal of the year, and the winner in the 2016 FFA Cup final.

Cahill highlighted his focus on playing in Russia next year.

"Qualifying for the World Cup has been a great adventure, and it would be a massive honour to represent my country in Russia. That will be my focus in the coming months," he said in a statement.

"Playing in the domestic league in Australia was always an important career goal for me, and my experience here has been fulfilling from start to finish. The welcome from fans, the quality of the facilities and the ever-increasing quality of football continues to be a source of immense pride.

"I want to thank Melbourne City, the players and the staff, and especially the fans. It was amazing to help bring the first piece of silverware to this club, and this makes me very proud.

"My experience here has been great and I have enjoyed contributing to the culture inside the Club, being asked to take on a leadership role and, most importantly, being able to mentor a lot of the younger players - something I will continue to do in the future.

"I wish the club, head coach, players and all the fans all the very best for the rest of the season. It's never easy to say goodbye but it was great to win last weekend and make a contribution, and also to have the club sitting third in the league."

City CEO Scott Munn thanked Cahill for his contribution to the club.

"Tim has been part of Melbourne City during a significant period in its history, scoring the winning goal in the FFA Cup final and contributing 13 goals in his first season in the A-League.

"We are grateful for his professionalism, leadership and mentorship of the playing group, particularly the younger players, to whom he has been a great source of inspiration and learning.

"Everyone at Melbourne City wishes Tim the best of luck for the future, and thanks him for his contribution to the Club and to the Australian game."

Joyce added: "Having players of Tim's stature in the dressing room can only help develop a squad's ambitions, and his impact on the team and for the club is well known, particularly with the younger players in the squad.

"In the period that I've worked with Tim, I have appreciated the contribution he has made both on and off the field and the dedication he has shown in training. We all wish him the very best on the next stage of his career."

Cahill's Socceroos teamamte Mark Milligan backed the veteran to find the right club to further his World Cup hopes. Asked if he could still do a job on a regular basis for a club, Milligan said "absolutely".

''Timmy continues to do what Timmy does ... I look forward to seeing where he heads next. Him and everyone else in the team will make sure they are in the best possible place come the end of May next year (ahead of the World Cup squad announcement).

"It's up to Timmy to decide. Everyone wants to be playing. Everyone has learned never to back against him. I have no doubt for himself he is making the right decision. I think Timmy can go anywhere he wants to do a job."