Lisbie failed to hold down a regular first team place in the 2008/9 Coca-Cola Championship season, and in recent weeks it has become apparant that the former Charlton Athletic striker did not feature in the plans of Town boss Roy Keane.
Lisbie becomes the fourth striker to leave Town's books since Roy Keane joined as manager, with Dean Bowditch and Billy Clarke being released in the summer and Jordan Rhodes leaving late last week. In addition, Pablo Counago rejected a move to Swansea.
Keane has gone on record as saying he hopes to bring at least one more forward into the club, with only Counago, Jon Stead, Jon Walters and young Conor Wickham remaining among the blues striking ranks.