The Irish defender spent seven years on Humberside.
Paul McShane will be looking for a new club this summer after Hull City have opted not to extend the defender's contract. McShane is one of six players released by Steve Bruce's side following their relegation from the Premier League.
Liam Rosenior, Yannick Sagbo, Maynor Figueroa, Steve Harper and Joe Dudgeon will also leave the club when their contracts expire next month, but Irish international Stephen Quinn has been offered a new deal. Alex Bruce, son of manager Steve, will also be offered a new deal.
McShane was Hull's longest serving playing, and made 136 appearances, scoring five goals, since joining from Sunderland in 2008, but Sunday's draw against Manchester United will be his last appearance for the club.
'Regrettably, following relegation, we have made the decision to release the majority of those players whose contracts have expired,' manager Bruce told the club's website.
'We would like to place on record our thanks for the service they have given to the club, particularly our two longest serving players Liam Rosenior and Paul McShane. Both players have been outstanding for us and they leave with our very best wishes for their futures.'
Hull fans weren't happy with the news McShane wouldn't be offered a new deal.
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Setanta Sports.