Denilson is free to leave Arsenal after cancelling his contract by mutal consent, according to Sky Sports.
Denilson has spent the last two seasons on loan at Sao Paulo and had only a year left on his contract.
The 25-year-old has not been in Arsene Wenger's plans and now the Frenchman has decided to let the Brazilian leave as he plans for the new season.
Denilson's agent, Alexandre Soares has confirmed that the midfielder is free to leave and several clubs are interested in signing him.
"I can confirm Denilson and Arsenal have agreed to terminate his contract at the end of this month," Soares told Sky Sports.
"Denilson is free to move to another club and a number of clubs are interested in him".
"I do not want to name teams, but there is interest from Brazil as well as Russia, Italy, Germany and Turkey and I am talking to them.
"No decision has been made and we will assess all offers that come our way.
"If Denilson does stay in Brazil, Sao Paulo has the priority, but I do not rule out him moving to another Brazilian club as well," he added.
Denilson joined Arsenal in August 2006 from Sao Paulo and made over 150 appearances.
Wenger has reportedly been given a £70million summer war chest in hope the north London side can close the gap on the likes of Manchester United, Manchester City and Chelsea.
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