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Callum Ferguson says he is on the lookout for a new Big Bash League club after being told his time captaining Sydney Thunder is over.

Sydney Thunder will need to appoint a new captain after Callum Ferguson confirmed he had been let go by the Big Bash League club.

Ferguson replaced Shane Watson as skipper of the Thunder in 2019 after the star allrounder announced his BBL retirement.

Ferguson, who retired from first-class cricket earlier this season, made it clear after the Thunder's loss to Brisbane Heat in an elimination final that he was keen to remain skipper.

But the South Australian revealed on Saturday via social media that he had been released.

"Unfortunately I was notified yesterday that I will not be offered a contract," the 36-year-old posted on Instagram.

"I have loved every minute on & off the field with this playing group, the last 4 years have been a great ride! I am now looking forward to what my playing future holds in the @bbl."

Ferguson thanked former Thunder bosses Mike Hussey, Lee Germon and Nick Cummins plus current coach Shane Bond, adding that the fans' support had been "instrumental in helping us to consecutive finals runs".

Ferguson flagged last week that he was keen to try his luck on the international T20 circuit this year.

"If COVID allows us to, I'll try to travel and play some T20 cricket around the world," Ferguson said after his team's BBL season ended.

"I'm keen to play some white-ball cricket for a few years yet.

"While I feel like I'm contributing and playing good cricket and enjoying it - which I am with this (Thunder) group - I'll certainly try to keep playing."

Ferguson tallied 405 runs at 31.15 with a strike rate of 123.85 during this season's BBL, the eighth-most before Saturday night's final.