No reason was given for the 21-year-old's departure, but he was released on bail in late January after being arrested on suspicion of rape.
A club statement read: "Newcastle United can confirm that Nile Ranger has today left the club by mutual consent."
Ranger's arrest came after he had angered Newcastle fans by criticising them for booing after Newcastle lost at home to Reading the previous weekend.
He went on to enrage them by apparently spelling his name out in £20 notes and posting a photo online.
Ranger had not played in the Reading game and his last appearance for the Magpies was as a substitute in the 2-0 FA Cup defeat at Brighton on January 5th.
In October, he was convicted of two counts of assault against two police officers, but was told he would not serve any jail time as long as he stayed out of trouble for the next 12 months.
London-born Ranger came through the ranks at Newcastle, but only five of his 51 league appearances have come as starts, and he has scored just three goals in all competitions since making his debut in 2009.
The England U19 international has also spent time out on loan at Barnsley and Sheffield Wednesday.
After the news of his departure was announced, Ranger tweeted: "I'm happy".