The 24-year-old, son of former England striker Teddy, was informed that his contract would not be extended in a meeting with Cherries boss Eddie Howe and assistant Jason Tindall on Monday.
Having joined from Dartford in October 2011 the striker made seven appearances before a foot fracture sidelined him for 14 months.
After returning to full fitness, Sheringham was back with Dartford in March where he scored four times during a 10-game loan spell.
"Through no fault of his own, Charlie was very unfortunate to sustain a serious injury just a couple of months after he had moved here and he missed a lot of football," Howe told the club's official website.
"Thankfully, he returned towards the end of this season and did really well during a loan spell with Dartford.
"We have reluctantly decided to let him go but it was a very tough decision. We just felt that following promotion to the Championship and with the current strikers we have in the squad, Charlie was probably not going to get enough game time.
"He was a pleasure to work with during our time here and we would like to wish him all the best for the future."