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The club management has cited the French forward s frustration with refereeing decisions as a factor in his decision, Reuter reported.
Germain was given a two-match ban last week for making an alleged lewd gesture at a match official in stoppage time of their 2-2 draw against Western United.
He was to appeal the ban at a Football Australia hearing this week but the governing body said on Monday he had withdrawn it and accepted the sanction.
Macarthur confirmed it had granted Germain s request for a release from his contract. He is expected to continue his playing career in Japan.
"It s disappointing that any player, a marquee player, especially one of the quality of Valere Germain, is frustrated by the refereeing in this country," Macarthur Chairman Gino Marra told Australian Associated Press on Monday.
"I’m sure many fans and clubs feel the same way. Valere has been a true professional at all times at the club and we wish him and his family all the very best."
Football Australia said it understood Germain s departure from Macarthur was based on a "range of factors".
"Refereeing is an essential part of the game, and Football Australia remains committed to upholding the highest standards of officiating in the A-Leagues," an FA spokesperson said in a statement.
"We will continue working closely with the Australian Professional Leagues and stakeholders to ensure officiating standards remain a priority across all levels of the game."
Australia s Professional Football Referees Association was contacted for comment.
Germain was sent off during the semi-finals of the Australian Cup competition last year after drawing two yellow cards against South Melbourne FC.
He missed Macarthur s 1-0 final win over Melbourne City due to suspension.
Germain s departure is a big blow for Macarthur, who are seventh in the league and lose their top scorer with seven goals this season.
The top six teams at the end of the regular season contest the playoffs in May.
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