Record-scorer Miedema to leave Arsenal when contract expires
The 27-year-old has scored 125 goals and provided 50 assists in 172 appearances for the Gunners since joining from Bayern Munich in 2017.
She is the WSL's record scorer with 78 goals and won the league title with Arsenal in 2018/19.
Miedema has made 13 appearances this season for Jonas Eidevall's team following her return from an anterior cruciate ligament injury, scoring once.
Arsenal sporting director Edu said in a statement: "On behalf of everyone at the club, we thank Viv for her huge contribution towards the success of the team during her seven years with us.
"Viv's goals and overall performances as an Arsenal player have been of the highest quality and she has created so many wonderful memories for us over the years."