"Unfortunately it will not be possible to renew my contract. But Santos FC will always be in my heart," Robinho said in a statement.
"FC Santos will go great, because it is above any player. I will try to remain happy doing what I like best, which is play football and hopefully one day return."
Brazil media said Robinho, who was part of the Brazil side that exited the Copa America on Thursday following a quarter-final penalty shootout defeat by Paraguay, would be joining four-times reigning Chinese champions Guangzhou.
The Chinese club appointed 2002 World Cup winning coach Scolari earlier this month after sacking Italian Fabio Cannavaro after less than half a season in charge.
Scolari has been quick to make changes and signed Brazilian midfielder Paulinho from English outfit Tottenham Hotspur on Monday for a reported fee of around $15 million.
Guangzhou, 2013 AFC Champions League winners, are not the only Chinese club to have lavished money on expensive internationals with Shanghai Shenhua paying $14.5 million to Turkish side Besiktas for Senegal international Demba Ba this week.
(Writing by Patrick Johnston in Singapore)
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