The 33-year-old has opted against taking up the final year of his contract, meaning 2017 will be his last season playing for Melbourne.
Cronk has played 306 games for the Storm across 15 seasons, winning the Clive Churchill Medal in 2012 and the Dally M Medal in 2013 and 2016, while he has also played 32 Tests for Australia and 19 State of Origin games for Queensland.
"Melbourne Storm has been everything to me since moving down here from Brisbane as a kid back in 2003," Cronk said.
"The club has helped me grow into the person I am today and I will be forever grateful to Craig [Bellamy], the coaches, my teammates and everyone associated with this great club for making it such a special place to be a part of. I will always be a Melbourne Storm person.
"To our incredible members and fans, we have shared so many special moments together over the years and I promise you I will be doing everything I can to make 2017 a season we will never forget."
Cooper Cronk waves goodbye. Credit: Grant Photos. Copyright: NRL Photos.