Mayambela's contract with Chippa was set to expire in June this year, with the midfielder already being linked with a move to either Mamelodi Sundowns or SuperSport United.
According to sources close to the Chilli Boys, the club wanted to offer the 28-year-old a new contract but the player has made his mind that he will leave the Port Elizabeth-based side.
"The club wanted to keep him. The chairman [Chippa Mpengesi] is a big fan of Mayambela, but I believe he has an offer somewhere else," said the source.
However, the former Orlando Pirates winger refused to comment on his future, and insists he will see out his current contract with his employers.
"I cant talk about my future in football. I still have contract with Chippa United and I am currently training with the club in preparations for our next game," he said.