Despite playing a key role for the team since his arrival in 2007, the 33-year-old dropped down the pecking order following Marcelo Bielsa's appointment and has not made an appearance this season.
"My contract with Olympique de Marseille is terminated," Cheyrou told footligue1.fr. "I am free of any commitment, I am no longer under contract with OM from today.
"My situation was not clear to me and there was much confusion between the management, the coach and myself."
Cheyrou won three major honours, including the Ligue 1 title in 2010, during his time with Marseille.