The former Australia international, who skippered Adelaide to the Premiership title in the inaugural A-League season in 2005/06, had been hampered by injury since his side's heavy defeat to Melbourne Victory in the A-League Grand Final in February.

The 33-year-old, who is the elder brother of Australia striker John Aloisi, was named in the Adelaide squad for the ongoing AFC Champions League but did not appear in either of the Reds' first two games in the Asian continental championship.

According to a statement released by the club, both parties came to a mutual agreement to terminate Aloisi's contract.

"Football has given so much to me and I'm just very thankful for the special opportunities I've received along the way, including playing in Europe, but none more special than to finish my (A-League) playing career with Adelaide United and as its captain over the last two years," said Aloisi in the statement.

Adelaide chief executive Michael Petrillo paid tribute to Aloisi, who will be given a testimonial dinner by the South Australian side.

"Ross has had a fantastic playing career with the club and we admire his decision to make way for younger players in the playing group," Petrillo said.

"He has put the club first and as the inaugural captain of the club in the Hyundai A-League, Ross will always hold a special place within Adelaide United and in the hearts and minds of all supporters."