Tom becomes a free agent following a two-year spell with the Foxes, having joined the Club from Rochdale in the summer of 2010.
The 27-year-old full-back made 12 appearances for the first team during his time at King Power Stadium and also spent time on loan with Rochdale and Peterborough United.
Everyone at the Club would like to thank Tom for his service during his time in City blue and wish him well with his future career.