Lithuania center Agne Abromaite is looking for a new club after being told by Ros Casares that she will not be returning to the side.
Abromaite, who is expected to be in her country's EuroBasket Women squad this summer, joined the Valencia club in November and only played in EuroLeague Women games.
In eight appearances, she averaged 1.6 points and 1.5 rebounds per game.
Ros Casares have also decided not to renew the contract of American center Nicky Anosike, who played in the Liga Femenina but not the EuroLeague.
There is unconfirmed speculation that Ros Casares are planning to bolster their squad with Australia's Lauren Jackson and Belgium's Ann Wauters.
An injury in December cut short Jackson's season with Sparta&K M.R. Vidnoje while Wauters, who began the campaign at UMMC Ekaterinburg, stopped playing as she is expecting her first child.
Wauters did visit Valencia earlier this year and sat in the stands as Ros Casares beat Bourges in the opening game of their quarter-final tie.