The Arsenal captain cited a difference of opinion between himself, manager Arsene Wenger and CEO Ivan Gazidis over the direction of the club as reasons for his decision, according to the Guardian.
"As announced earlier this year, I had a meeting with the boss [Wenger] and Mr. Gazidis after the season," the Guardian reports Van Persie said on his personal website. "This was a meeting about the club's future strategy and their policy. Financial terms or a contract have not been discussed, since that is not my priority at all.
"I personally have had a great season but my goal has been to win trophies with the team and to bring the club back to its glory days. Out of my huge respect for Mr. Wenger, the players and the fans I don't want to go into any details, but unfortunately in this meeting it has again become clear to me that we in many aspects disagree on the way Arsenal should move forward.
"I've thought long and hard about it, but I have decided not to extend my contract. You guys, the fans, have of course the right to disagree with my view and decision and I will always respect your opinions."
Van Persie's contract expires after the 2012-13 season. Arsenal will have to decide wether to hold van Persie to the last year of his contract or sell him to another club during the summer transfer window.
It is thought that the 28-year-old Dutch striker would command a hefty transfer fee. He scored 34 goals (in all competitions) en route to winning both major "Player of the Year" awards. Juventus, Manchester City, FC Barcelona and AC Milan are reportedly interested in adding the star striker to their ranks.