The striker has been with the Potters since June 2006 but has not been able to command a regular place in the starting XI in recent times.
His last appearance for the club came in January's FA Cup defeat at Hartlepool and he was subsequently loaned out to Millwall.
new club
Pericard's spell with the Lions was cut short by an Achilles tendon injury but he will now be allowed to look for a new club.
The 26-year-old's current deal expires at the end of June and he has been granted a free transfer by Pulis.
"He's a smashing lad and he goes with my very best wishes for the future," Pulis said.
"Even though he didn't play that many games, he was one of those players helping with our early development a few years back. It's just a pity he had his fitness problems and what-not. But behind the scenes, he was always first class and played his part as a member of a growing squad."
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