Ferdinand, 28, spent the second half of last season on loan at Turkish side Bursaspor and is now free to find a new club.
The centre-back joined Rangers from Sunderland in August 2011 and went on to make 49 appearances for the club.
A Hoops statement read: "The club would like to thank Anton for his contribution and wish him all the best for the future."
Source: PA
Source: PA