The Nigeria international has had his contract terminated by mutual consent at the City Ground.
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Forest said in a statement: "Nottingham Forest can confirm that Emmanuel Dennis has left the Club following the mutual termination of his contract.
"Dennis joined Forest from Watford in August 2022 and went on to make 25 appearances for the Reds.
"The 27-year-old spent time on loan at İstanbul Başakşehir and Watford during the 2023/24 season, spending the second half of the 2024/25 campaign on loan at Blackburn Rovers.
"We wish Emmanuel well for the future."