Kone’s name was amongst ten other names, reserve team players included, who will not be retained by the Premier League side for the 2017/18 season.
In a statement released by the club the 33-year-old and fellow forward Conor McAleny are identified as leaving when their contracts expire at the end of the month.
"Everton can confirm Arouna Kone and Conor McAleny will leave the Club when their current contracts expire at the end of the month,” Everton said in a statement.
"Kone will depart, having made 62 appearances and scored 10 goals for the Blues during his four-year stay.”
The former Wigan Athletic striker notably struggled with injuries during the 2016/17 campaign and only made six league appearances without scoring a single goal.
He has also played for Levante, Sevilla, Hannover 96 and PSV Eindhoven during his career and has been capped 39 times by the Elephants.