During his three seasons with Astana, the 27-year-old Contador won a Giro d’Italia and Spanish Vuelta title as well as two of his three Tour de France titles.
His latest Tour title came just last Sunday, as he beat Luxembourg’s Andy Schleck to the yellow jersey by 39 seconds.
“His contract will end at the end of this season,” the statement said.
“After winning the 2010 Tour he will take time to calmly study all the offers that come his way for racing in the coming seasons, without any of them being ruled out at the moment,” the statement concluded.
Reports have suggested the 27-year-old could join up with team manager Bjarne Riis who has been looking for sponsors.
Contador joined Astana in 2008 after the Discovery Channel team was disbanded following the Pinto-born rider’s Tour triumph in 2007.
Astana last year struggled to pay the wages of its riders.