According to agent Rich Paul, the player has informed the club that he will not be returning.
The 41-year-old - who is the highest scorer in NBA history - has also said that he will play for another club, but which one remains to be seen.
LeBron James has previously played for Cleveland and Miami. He has won the NBA four times - 2012, 2013, 2016 and 2020 - and has received several major awards.
