Baros fell out of favor with Galatasaray manager Fatih Terim and has not made an appearance for the Lions this season.
The Czech international, who had 4 months left on his contract, earned €2.7 million per season.
The 32 year old striker is expected to sign for Czech Republican side Banik Ostrava.
Milan Baros joined Galatasaray in 2008 from Olympique Lyonnais for a fee of €4.7million.
