The 31-year-old, whose contract expires next month, revealed on Wednesday his 10-year stay with Milan was coming to an end.

The two-time Scudetto and UEFA Champions League winner is leaving by mutual agreement with Milan, with reports suggesting he is set to join Serie A rivals Juventus.

"I am here to say goodbye. These were 10 unforgettable years and it's a consensual separation," Pirlo said.

"Do I hope Milan will regret losing me? Yes."

There was some good news for the club after they announced veteran striker Filippo Inzaghi had signed a one-year contract extension.

"AC Milan announces that Inzaghi has extended his contract until June 30, 2012," a club statement read.

Defender Alessandro Nesta has also signed on for another year, adding to Tuesday's new deals for Thiago Silva, Flavio Roma and Mark van Bommel.