The 31-year-old, who has spent the last two seasons at Sixfields, scored 17 goals in all competitions in 2012/13 but has been deemed to be surplus to requirements by Cobblers manager Aidy Boothroyd following the play-off final defeat to Bradford at Wembley on Saturday.
John Johnson, Louis Moult, Jake Robinson, Lewis Wilson, Paul Turnbull and Seth Nana Twumasi have also been released.
A statement read: "We would like to place on record our sincere thanks to all of the departing players for their efforts and wish them well in their future careers."
Luke Guttridge and Roy O'Donovan are two of seven players to be offered new contracts by Northampton.
Kelvin Langmead signed a two-year contract earlier on Tuesday and Guttridge, O'Donovan, Lee Collins, Ben Tozer and Ben Harding have been offered fresh terms.
The Cobblers have also offered a deal to defender Nathan Cameron, who enjoyed a successful spell on loan from Coventry. He has been released by the Sky Blues.