The Argentine striker's exit had remained in doubt right up until the final days, with hopes lingering among Turkish supporters that a renewal could still be found, but no agreement was reached between the Turkish club and the forward's representatives over fresh terms.
With his Galatasaray adventure now confirmed over, Icardi finds himself without a club, though speculation over his next destination continues, including reported interest from Lazio. There is also a fresh development from South America.
According to TV Azteca, Icardi is now being tracked by Tigres of the Mexican league, while Club America are also closely monitoring the 33-year-old's situation. No official offer has been made by either side as yet, though both Mexican clubs are said to be weighing up the terms of a potential deal.
As a free agent, no transfer fee would be involved, though Icardi's salary demands, reported to be in the region of €5m a year, could complicate any negotiation.
The forward leaves Turkey as one of the standout foreign players in Galatasaray's history, having scored 77 goals and provided 25 assists in 134 appearances across four seasons at the club, a spell that included multiple league titles and top-scorer awards.
Galatasaray marked his exit with a heartfelt tribute, writing: "Dear Mauro, today we're not talking about a goodbye, but a legacy. The fact that you no longer wear the Galatasaray shirt won't change the place you hold in our hearts.
"Because you, from seven-year-olds to seventy-year-olds, won over the heart of every Galatasaray fan.
"Beyond the goals scored, the top-scorer titles won, the records broken and the trophies lifted, you lived the passion for Galatasaray and made millions of people live it too.
"You're no longer just someone who wrote his name in gold letters in the club's history, but a value that will live on forever among Galatasaray's unforgettable legends. Dear captain who made an entire generation Galatasaray fans, if children today are proud to say 'I'm Galatasaray', that's down to you too. Every Galatasaray fan knows it... A love like that isn't forgotten."