Real Madrid announced that Karim Benzema will leave the club this summer.
The striker has been with Los Blancos since 2009 and has gone on to win 25 trophies with the club, including five Champions Leagues.
A club statement read: "Real Madrid CF and our captain Karim Benzema have agreed to end his brilliant and unforgettable period as a player for our club.
"Real Madrid wants to show its gratitude and all its affection for who is already one of our greatest legends."
Benzema made 647 total appearances for the club since joining from Lyon 14 years ago and is the club's second all-time goalscorer with 353 goals.
As well as an impressive amount of trophies won at the club, he also claimed the Ballon d'Or in 2022.
Madrid will hold a farewell celebration to the 35-year-old on Tuesday alongside club president Florentino Perez.
The statement added: "Real Madrid is and will always be his home, and he wishes him and all his family the best in this new phase of his life."
There is strong speculation that he will join former Real Madrid teammate Cristiano Ronaldo in Saudi Arabia.
It has been reported that he is set to join Al Ittihad on a salary worth more than £172million per year.
He could also be joined by the likes of Lionel Messi and Sergio Ramos, who are both out of contract at PSG.
Real Madrid could test Tottenham's resolve on striker Harry Kane this summer as they now search for replacements.
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