The veteran wing-back departs Real Madrid with his contract now expired after the Club World Cup.
Vazquez came right through the La Fabrica system at Real Madrid and bar a loan spell with Espanyol, has spent his entire career with Los Merengues.
Vazquez announced on social media today:
"Dear Madrid fans, almost two decades have passed since I arrived at Valdebebas, at 16 years old, full of dreams and enthusiasm to wear this shirt. Every step was a gift and over time Madrid became my home. We have lived unforgettable nights, 23 titles and moments that will always remain recorded in my memory.
"Heartfelt thanks to the president, the board, the workers, my coaches, my teammates and above all, the fans. You pushed me to always give a little more. Today, after more than 400 games, I have to say goodbye to the club of my life.
"But I leave calmly, with the certainty of having given everything. I have always been aware of the responsibility and privilege of defending this shield. I have enjoyed every game, every training session, every trip. And if this path taught me anything, it is that only you decide how far you can go.
"I'm leaving Real Madrid, but real Madrid will never leave me. Wherever I go I will proudly say that I had the honor of playing for the best team in the world. Thank you for joining me on the most beautiful trip of my life. Hala Madrid and nothing more."
Real Madrid will stage a formal farewell to Vazquez at the Santiago Bernabeu on Thursday.