Lamola arrived at Abafana Bes'thende in July 2016 after parting ways with Bloemfontein Celtic.
The 34-year-old centre-forward has played a total of 128 games and scored 25 goals for the KwaZulu-Natal club.
It is not yet clear where 'Malume' will be playing his football next season but with his experience and ability to score goals, he is not expected to struggle to find a new club.
"I have left Arrows my brother," Lamola confirms to snl24.com/kickoff.
"At this stage I don't know yet where I'm heading to, maybe home. Everything was resolved amicably, remember my contract ends today. So I was told the coach [Steve Komphela] has put me on the transfer list.
"So I just told them, 'No problem, I will leave in peace.' At the moment I've got no offers, unless maybe something shows up."
Contacted for a comment on Lamola and striker Sibusiso Sibeko leaving the club, Arrows team manager Nonceba Madlala says: "The club will confirm on the social media."
Arrows also parted ways with Musa Bilankulu and Danny Venter during lockdown.