Former test bowler Bond would not be renewing his contract against the wishes of the board, New Zealand Cricket (NZC) said, without elaborating on why the 39-year-old was withdrawing his services.
"Make no bones about this... we're very disappointed to be losing Shane," NZC head of cricket Lindsay Crocker said in a statement.
"He's given great value to the Black Caps programme and we were hopeful of having the benefit of his input over the next few seasons.
"However, we respect his decision and his reasons for making that decision, and wish him well in his endeavours post-world cup."
New Zealand co-host the World Cup with Australia in February and March.
(Reporting by Ian Ransom in Melbourne; Editing by John O'Brien)
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