Keita will bow out alongside Roberto Firmino, whose exit has long been forecast, as well as James Milner and Alex Oxlade-Chamberlain.
All the quartet will be out of contract after the end of the current campaign.
"We can confirm Roberto Firmino, Naby Keita, James Milner and Alex Oxlade-Chamberlain will leave the club upon the expiry of their contracts this summer," said a Liverpool statement.
"Special acknowledgements will be paid to the quartet at Anfield, with further tributes to follow at the end of the season."
The 28-year-old joined Liverpool in the summer of 2018 from Bundesliga side RB Leipzig after spells at French side Istres and Salzburg of Switzerland.
He scored 11 goals in 129 appearances with Liverpool in all fronts.
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