The 38-year-old former England star joined the Rams on a short-term deal in January and deputised for the suspended Scott Malone in the Championship play-off final.
Ashley Cole has not been offered a new contract by Championship side Derby County
David Nugent (Above), Efe Ambrose, Alex Pearce and Marcus Olsson have also been released
David Nugent, Efe Ambrose, Alex Pearce and Marcus Olsson will also be released when their contracts expire on June 30.
32-year-old midfielder Craig Bryson, whose contract also expires at the end of the month, is in discussions to sign a new deal.
Impressive loan stars Fikyao Tomori (Chelsea), Harry Wilson (Liverpool), Mason Mount (Chelsea) and Andy King (Leicester City) have all returned to their parent clubs.
Dutch goalkeeper Kelle Roos has signed a new deal and will remain at Pride Park until the end of the 2021/22 campaign.
Harry Wilson has returned to parent club Liverpool after a successful loan spell
Goelkeeper Kelle Roos has signed a new deal and will remain at Pride Park until 2022