Wigan have announced Uwe Rosler as their new manager after agreeing compensation with Brentford.
Arsenal manager Arsene Wenger feels loan deals should be treated just like permanent transfers.
The 27-year-old joined the Welsh club in from West Brom in January 2010 for an undisclosed fee and went on to score 11 goals in 60 appearances.
The official Swansea club website said of the former Aston Villa forward: "Swansea City has parted company with striker Luke Moore by mutual consent.
"Swansea City would like to thank Luke for his contribution to the club and wish him well for the future."