The Rangers will pay Berkman a $1 million buyout.
Berkman, 37, batted .242 with six home runs and 34 RBIs in 73 games in one injury-plagued season with the Rangers. He dealt with a hip injury as well as problems with his surgically repaired right knee all season.
After hitting .319 with two homers and 15 RBIs in the first month of the season, Berkman had just 19 RBIs in his final 52 games. He started four games in October, going hitless in 12 at-bats.