Broom (30), who started out with Canterbury, transferred to Otago for the 2005-06 season and has been a key member of the squad.
During his tenure, the Volts won two twenty20 titles and a one-day title.
Broom made 77 first-class appearances for the province, scoring 4617 runs at an average of 41.59, including 12 centuries. Only four players have scored more runs for Otago.
The right-hander was also a standout performer in limit-overs cricket. His most memorable innings was arguably his unbeaten 117 off just 56 balls against the Perth Scorchers at the Champions League in India last year.
Broom's form during the 2008-09 saw him elevated to the national team. He was not able to have the impact he would have liked at international level but played 22 ODIs and 10 twenty20 games for New Zealand.
That said, he was certainly a consistent performer for Otago and will be a huge asset for Canterbury.
He is spending the winter doing some construction work in Queensland and was not available for comment. In a statement, he said he would miss Otago cricket and had enjoyed his time in Dunedin.
''I hold the place very close to my heart after spending nine great years in Dunedin. However, the time is right for me to return to Christchurch with my family.''
Otago Cricket Association chief executive Ross Dykes said Broom went with everyone's blessing.
''Neil has made a wonderful contribution to Otago cricket since he moved down,'' he said.
''His record speaks for itself but one can never speak of Neil's batting without fondly recalling his remarkable century against the Perth Scorchers. ''He leaves a big hole in all forms of cricket but we wish him and his family the very best for their future and thank him sincerely for all that he gave Otago on and off the field.''
Broom's former captain, Craig Cumming, said he would be a great loss.
''He is a guy that can dominate in all three forms of the game and his record in all three forms for Otago has been exceptional,'' Cumming said.
''It is probably no coincidence that success for Otago coincided with Neil's arrival. You can't replace what he has been able to bring to Otago cricket. It will leave a big hole.''
Broom has played 99 first-class games but will now raise the century milestone for Canterbury rather than Otago.
Neil Broom: Record for Otago
First-class: 77 games, 4617 runs (12 centuries) at 41.59
One-day: 67 games, 2037 runs (three centuries) at 38.43
Twenty20: 64 games, 1348 runs (one century) at 24.50
