The midfielder’s contract was due to expire in June and now he and the Reds hierarchy have reached an agreement for him to leave the club early and pursue other opportunites.
Bahre’s exit follows on from the departure of Jordan Green, who also recently left the club ahead of his contract expiring this summer.
Bahre, 25, who was signed by former Reds head coach Daniel Stendel from former side Hannover 96 in the summer of 2018 on an initial season-long loan - with the deal made permanent the following summer - fell out of favour under Stendel’s successor Gerhard Struber in the second half of last season.
The German played just one game after football’s resumption after the first lockdown - in the 1-1 draw at Luton Town on July 7 - his last appearance for the club.
Bahre was frozen out under Struber in the early part of this season and has also not featured under his successor Valerien Ismael.
Bahre has trained with the under-23s this season, while also being sidelined with an abductor injury for a spell.
Bahre’s departure follows on from the loan exits of Luke Thomas and Elliot Simoes, who have joined League One duo Ipswich Town and Doncaster Rovers respectively for the rest of the 2020-21 campaign.