Piri Weepu. Photo by Getty
No explanation was given for his axing, but the former Blues and Hurricanes halfback managed to start just five Top 14 matches this season and made three appearances off the bench.
The former All Black only joined Oyonnax at the start of this season, arriving after stints in the Premiership with first London Welsh and then Wasps.
"Oyonnax have ended Piri Weepu's contract. The player is no longer part of the club's professional squad," the club told Planet Rugby.
Weepu, who has been struggling with leg injuries, won 71 caps for the All Blacks between 2004 and 2013.
