Brouwer, who signed a four-year, $18 million contract with the Flames on July 1, 2016, is now an unrestricted free agent.
The 32-year-old forward had NHL career lows in goals (six) and points (22) in 76 games last season. He had 25 points (13 goals, 12 assists) in 74 games with the Flames in 2016-17.
"I want to say first and foremost, Troy's a good man and he gave everything he had to the team while he was here,'' general manager Brad Treliving told the Flames website. "So we thank him. I had a good talk with Troy. These are never fun things to go through. These decisions affect people, affect families, and you never want to lose sight of that.
"I don't think there's one particular reason these things happen. Sometimes the fit's not right. You do a lot of work to find that right fit but sometimes it just doesn't materialize. Ultimately, it didn't work. But Troy's a pro and we wish him the best. Just disappointing."
Brouwer will count for $1.5 million against the salary cap for the next four seasons.
Selected by the Chicago Blackhawks in the seventh round (No. 214) in the 2004 NHL Draft, Brouwer has 341 points (169 goals, 172 assists) in 763 regular-season games with the Flames, St. Louis Blues, Washington Capitals and Blackhawks, and 34 points (15 goals, 19 assists) in 102 Stanley Cup Playoff games.
Brouwer won the Stanley Cup with the Blackhawks in 2010.
