"That schedule could only have allowed London Irish to sign another short term deal which doesn't fit with the club's future plans," the English club said in a statement on Friday.
Supremely talented and capable of playing any backline position, O'Connor blotted his copybook with several off-field lapses in recent years that have resulted in him falling from being Australian rugby's pinup boy to a national outcast.
"I have thoroughly enjoyed my time at London Irish and I'm looking forward to the next few months," the former Western Force and Melbourne Rebels back said.
"The club welcomed me in with open arms last year in what was a difficult time and have been brilliant to me during my time so far," added O'Connor, who has won 44 caps.
(Reporting by Amlan Chakraborty. Editing by Patrick Johnston)
