The 35-year-old's contract has been terminated by "mutual agreement".

Toure, who was a free agent in the summer after leaving City, chose to join Olympiakos in September, where he spent the 2005-06 season.

The former Ivory Coast international, who also played for Barcelona, made just two starts and two substitute appearances while in Athens.

"Olympiakos and Yaya Toure would like to announce to the fans that they have mutually agreed to end their cooperation," the club said in a statement.

"Yaya is leaving as a friend and the doors at Olympiakos will always be open for him. Our paths will surely cross again."

Toure helped Olympiakos to a domestic double before leaving after one season to join Monaco 12 years ago.

He joined Barcelona in 2007 - winning the Champions League in 2009 - before moving to Manchester City in 2010, where he won the Premier League three times.