Zdrilic leaves Saddlers
The 29-year-old striker was offered a one-year deal with The Saddlers, but he has decided to reject their offer and look for a new club elsewhere.
Zdrilic failed to hold down a regular place in the Walsall side this season due to injuries and a lack of form.
The Australian international, who only joined Walsall last summer from German outfit FC Unterhaching, made 29 appearances and scored five goals for the club.
Saddlers boss Colin Lee thanked Zdrilic for his contribution to the side.
"David's goals-to-games ratio was not too bad," Lee told the club's official website.
"However a combination of injury and the form of Jorge Leitao and Junior has meant that he has not been involved in the first-team as much as he would have liked this season.
"He has gone back home today and leaves Walsall FC with our best wishes for the future."