Hughes, who moved to Meadow Lane in the summer of 2009, made 146 appearances for the club, scoring 66 goals during a successful spell that included winning the Coca-Cola League 2 Championship in his debut season.
However, having found regular first team opportunities harder to come by this season, both parties felt that a mutually agreeable departure was in the interests of Notts County and Lee, who is now free to find a new club and a longer-term deal with a view to getting back to playing and scoring regularly.
The prolific striker became a firm fans’ favourite here at Notts County and the club would like to thank Lee for all of his efforts during his time at Meadow Lane.
Director Aileen Trew said of Hughes’ departure: “When a player has scored so many goals and become such an icon at a club, it is always difficult to see them leave, especially when they still have something to offer the club.
“I'd like to sincerely thank Lee for the part he has played in bringing success to this club during his time with at Meadow Lane,” added Mrs Trew.
“A real character, Hughsey's been a pleasure to work with and to watch on the pitch as he worked his magic with the original Magpies. I'd like to wish Lee and his family all the very best as he moves onto pastures new. LADTH!”