Real Madrid has confirmed that Marcelo will leave the club as a free agent.
The farewell will take place on Monday, June 13, at 1pm CET. Florentino Perez will be present.
Marcelo is Real Madrid's all-time most decorated player, having won 25 trophies with the club.
The 34-year-old made 546 appearances for the club, scoring 38 goals.