Anderson’s deal was due to expire at the end of the season, but the defender has struggled with injuries since joining the club and has now had his contract cancelled.
The 33-year-old is currently out with a hamstring injury until well into the New Year.
“Russell is a fantastic professional who moves on with our very best wishes,” Derby boss Nigel Clough told the club’s official website.
“He has been unlucky with a few injuries and the form of other players during his time with us, but throughout the last two years and he has been nothing but a positive influence in the dressing room.”
