West’s last game for Argyle was their 2-1 Carling Cup defeat at Barnet on September 20, since when he has been unable to regain a starting spot.
The former Derby and AC Milan defender, capped 40 times by Nigeria, played just four Championship matches for the Pilgrims.
However, he has not been able to displace Hasney Aljofree and Mat Doumbe since the arrival of new manager Tony Pulis.
West was initially signed on a one-year contract at Plymouth at the start of the season.
A Pilgrims statement said: “Plymouth Argyle have announced that the club has terminated the contract of their Nigerian central defender Taribo West.”