"Timo has made a very significant contribution to our team over the past three seasons, helping us to develop our package to the point where for a large proportion of the 2012 season, we were holding 10th place in the constructors championship, " said John Booth, Marussia's team principle.
"We would like to thank Timo for working with us to reach this decision especially as he had a valid contract and also for the contribution he has made to our team. We wish him all the best for his future and i would like to congratulate the next team acquiring the services of such a competitive, professional and experienced racer."
The team had to let him go because of tough economic conditions of the team.
With a best finish of 12th Glock had completed 55 Grand Prix for Marussia was keen to pay tribute to the team.
"I have had three excellent years with the Marussia F1 Team during during which i had the chance to actively participate in building and developing the team to F1 "he said.
Rookie driver Max Chilton are their only confirmed driver at the moment.
Booth added that the 2nd driver announcement will be made soon.
Marussia also have yet to confirm their car launch date.
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