The Italian, who spent last season on loan at Italian side Empoli, will not play for Leeds anymore.
Bellusci, who made 61 appearances for Leeds during two seasons, was one of the first signings made under Leeds owner Massimo Cellino in 2014.
"Leeds United can confirm that Giuseppe Bellusci’s contract has been terminated by mutual consent. We wish Giuseppe well for his future", a Leeds statement said.
Bellusci made his last appearance for the club against Reading in April 2016. Former United coach Steve Evans dropped him due to disciplinary reasons.