The Daily Telegraph has been told Minichiello – off contract after the 2012 season – will not be re-signed.
However the star fullback, who has played in five NRL grand finals, wants to continue playing – either in the NRL, English Super League or French rugby union.
Minichiello has played 227 games for the Roosters, 18 Tests for Australia and 11 State of Origin games.
“I am keeping my options open,” Minichiello said.
Roosters skipper Braith Anasta also comes off contract at the end of this season and has plenty of supporters at the club, but no decision has yet been made to re-sign him. Roosters management will have to fight to retain another off-contract star this season, aggressive forward Jared Waerea-Hargreaves.