Hasselbaink, 35, was signed in pre-season by then manager Iain Dowie and has only scored 2 goals in 25 Premiership appearance.
The former Leeds, Chelsea and Middlesbrough star has been released for financial reasons and made his final appearance in Sunday's 2-2 draw against Liverpool at Anfield.
Despite a poor season though, Hasselbaink has insisted he has another two top flight seasons in him.