Juanma Ortiz has had his contract at Rangers cancelled by mutual consent.
The Spanish winger arrived at Ibrox last summer from Almeria, signing a three year deal with Ally McCoist's team.
However, Ortiz found first-team appearances hard to come by, making just 10 appearances before returning to Almeria for the second half of the season.
A statement on the official Rangers site said: "The club would like to wish Juanma well for the future.
"The club will not have any objection to an International Transfer Certificate being provided by the SFA and the player has conducted himself in the correct manner."
The winger will now join up with Granada, where he is expected to report for pre-season training on July 23.
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