General manager Marc Bergevin and head coach Michel Therrien met with Bouillon to advise him that the Club will not be offering him a contract for the upcoming season.
Bouillon had six points and was a plus-4 in 52 games with the Canadiens in 2013-14. He also spent three seasons with Nashville.
The 38-year-old was a fan favourite in Montreal, breaking in with the club in the 1999-2000 season. He had 149 points (32 goals, 117 assists) in 776 regular season contests.