The 37-year-old's future was the first item on the agenda for Unai Emery when he met with club bosses to discuss plans for the summer transfer window and it has been decided to let the veteran depart.
Young, who started 23 Premier League matches this season at right-back, had expressed his desire to stay after Villa beat Brighton on Sunday to secure a place in next year’s Europa Conference League play-off round.
Recruiting competition for Matty Cash at right-back will now be high on Villa’s list of priorities in a window where Emery also wants to bolster his attacking options.
Young, who first signed for Villa in January 2007 before leaving for Manchester United in a £12.6million move in 2011, rejoined the club in 2021 as a free agent.
He leaves having made 250 total appearances in his two spells at Villa Park.