Off-contract Bohanna informed the Suns on Monday, just hours after the club sacked coach Cameron Joyce.
The key forward is expected to return home to Victoria after the club encouraged her to explore her options.
She has reportedly received interest from Victorian clubs and is heavily linked to Carlton.
Bohanna has captained the Suns since 2022 and has been integral in attack, kicking the most goals for three of the past four seasons.
The 29-year-old kicked only nine goals this season as the Suns struggled to find form and secure back-to-back finals appearances.
Star midfielder Charlie Rowbottom is also uncontracted, but is expected to reject overtures from Sydney - where brother James plays - to stay at the Suns.
Joyce was sacked earlier on Monday less than six months after extending his contract until the end of 2026.
The Gold Coast Suns have sacked their AFLW coach, Cameron Joyce. (Dave Hunt/AAP PHOTOS)
The Suns and Joyce put pen to paper on a two-year extension in June, ahead of the most recent AFLW season.
At the time, Gold Coast were coming off finishing fifth on the ladder, followed by an elimination final exit in 2023 (6-1-3), and had high hopes for 2024.
Instead, the Suns' finals hopes evaporated and they finished 17th with just one win and one draw from 11 games.
It prompted a review of the program, with the Suns believing they needed a change of direction to take their AFLW team to the next level after four years under Joyce.
"Following a disappointing 2024 season, we have reviewed all aspects of our AFLW football program to identify how we can continue to improve our performance and ultimately achieve our mission of winning AFLW premierships," chief executive Mark Evans said in a statement.
"In order to take those steps forward and compete against the best teams in the AFLW competition, we have decided the club would be best placed under the guidance of a new head coach.
"Cam has led and overseen the transition of our AFLW football program over the past four seasons and created a foundation from which our players can strive for success moving forward.
"We'd like to thank Cam, his wife Leana and sons Henry and Oscar for their significant contributions to our football club."
The Suns have not lined up Joyce's replacement and will go through a recruiting process for their next senior coach.Â
It means they won't have a coach in place for the upcoming trade period, which starts on Thursday.
25°C