After negotiations with the club, both Marcelo and Olympiacos terminated the contract of the Brazilian player, who has only been in Greece for five months after leaving Real Madrid at the end of the 2021-22 season.
The 34-year-old Brazil international has an offer from another team, although the name of the team is not known. For his part, the winger said goodbye to the Greek club in a statement.
"I have lived unforgettable moments in Greece, in which I was warmly welcomed to a new home, not only for me, but also for my family. Piraeus and its people have all my heart and this won’t be my last time in this amazing country," he began.
He added: "I can only express gratitude for wearing the Olympiacos jersey. Even though the brief stay, the experience and the friends I made there will be forever marked in my life. Today I say goodbye but I’m leaving my affection and respect to the President, my teammates, all the employees and fans of the club. I wish Olympiacos a successful future!