Durant had a $31.5M player option in his current Warriors contract, which could have seen the 30-year-old commit to Golden State for another season.
However, according to ESPN, Durant has opted out of his contract, meaning he will become an unrestricted free agent.
Durant has been linked with the New York Knicks, the Brooklyn Nets, the Los Angeles Clippers and the Los Angeles Lakers this summer.
The small forward, who will miss the majority of next season after rupturing his Achilles in the NBA finals against the Toronto Raptors, could also end up signing a max contract with the Warriors.
ESPN’s NBA expert Adrian Wojnarowski revealed today that Durant and his business manager Rich Kleiman are currently in New York.
The pair are said to be evaluating Durant’s free agency options ahead of a hectic summer.
Kleiman informed Warriors general manager Bob Myers of his decision in the past week.
ESPN add that Durant is considering a return to Golden State, while the Knicks, the Nets and the Clippers are also possible landing spots.
Durant can sign a five-year, $221million deal with the Warriors this summer.
Should he choose to quit the Warriors and head elsewhere, Durant can only sign a four-year, $164 million deal.
With Durant expected to miss the majority of the 2019-20 season, there were doubts whether teams would offer the small forward a max contract.
However, ESPN say any interested teams are expected to offer Durant a max contract this summer.
Bleacher Report’s Ric Bucher has hinted Durant could end up in New York as he has ties to the Knicks.
“He has so many ties to the Knicks organisation,” he said.
“He’s the godfather of Royal Ivey’s daughter, a Texas alum, and a former teammate at OKC.
“Those guys are really good friends and he’s still an assistant coach with the Knicks.
“There is even a report that DeAndre Jordan, who played for the Knicks last year is close with KD, could add fodder.”