Real Madrid have confirmed that Marco Asensio will leave the club when his contract expires at the end of the season.
The Spain international has failed to establish himself as a regular starter under Carlo Ancelotti, who has often preferred Rodrygo, Vinicius Junior and Federico Valverde in the wide positions.
Asensio has still proven to be a useful option off the bench for Los Blancos in the current campaign, scoring 12 goals and providing eight assists in 50 appearances across all tournaments.
However, the 27-year-old has only made 15 starts in the current La Liga campaign, as well as featuring from the first whistle just twice in the 2022-23 Champions League.
Since entering the final year of his contract, Asensio's future has been the subject of much debate, and Ancelotti opened the door for the attacker to continue in Madrid earlier this year.
An agreement ultimately could not be reached, though, and Los Blancos have now announced that Asensio will end his eight-year spell at the club when his deal runs out.
"Real Madrid would like to express its gratitude and affection to Marco Asensio, a player who has defended our badge and our colours for seven seasons," a statement read.
"He joined Real Madrid when he was just 20 years old and has made history as part of a team involved in one of our most successful eras.
"As madridistas we will never forget his career and his outstanding conduct during all this time. Real Madrid is and will always be his home, and we wish him and all his family the best of luck in this new chapter in his career."
A product of the Mallorca academy, Asensio joined Real Madrid in the summer of 2015 for a modest €3.9m (£3.4m), and he spent one year on loan at Espanyol before making a name for himself in the first team.
The Spaniard has scored 61 goals and set up 32 more in 285 appearances for Los Blancos in all competitions, winning a total of 17 major honours during his time in the Spanish capital.
Asensio has formed a part of three Champions League-winning squads, as well as clinching three La Liga titles, four Club World Cups, three UEFA Super Cups, one Copa del Rey and three Spanish Super Cups.
The former Mallorca youngster was initially tipped to move to the Premier League at the end of his Bernabeu tenure, with Aston Villa boss Unai Emery believed to be a big admirer.
However, Paris Saint-Germain are now reported to be closing in on the signing of Asensio on a free transfer as the Ligue 1 champions prepare for life without Lionel Messi.
Asensio is set to make his final appearance in Real Madrid colours when Ancelotti's side end their La Liga campaign at home to Athletic Bilbao on Sunday.
