Ricardo Carvalho was described as "indispensable" during his time at Monaco after the decision was made not to renew his contract.
Monaco vice-president Vadim Vasilyev has confirmed that Ricardo Carvalho's contract has not been renewed and the veteran defender is now a free agent.
Carvalho made 43 appearances for Monaco last season, helping the club achieve a third-place finish in Ligue 1 before playing in three of Portugal's games during its triumphant Euro 2016 campaign.
The principality club signed Carvalho after his Real Madrid contract expired in 2013, and the former Chelsea defender made 95 league appearances in Ligue 1, playing all but one game as Monaco finished second in 2013-14.