The former Western Sydney Wanderers fan favourite had found form with the Turkish third division side, scoring nine goals in 30 appearances as they finished second in the league.
However, his good season in the Turkish City of Izmir wasn't enough for promotion and the nomadic Bulut is once again on the move after deciding not to renew his contract.
Bulut's time in Turkey signaled a return to form for the former Australia youth international after struggling at German third division side Wehen Wiesbaden.
The 26-year-old announced his departure from Menemen Belediyespor in an emotional post on Instagram.
"I'm afraid I've come to the end of my friendship with the Menemenspor club," Bulut said in the post.
"I tried to do my best, and this team deserved a top league, but I believe it will come."
"Thank you great fans of Menemenspor for all your love and support."
Bulut has given no indication of what his next move will be but told The World Game in December he missed playing for Western Sydney and would love a return.
The Western Sydney product became a cult cult favourite among the Wanderers' Red and Black Bloc support group when he scored five goals in nine games after signing for his first stint with the side in 2014.
Riding on the wave of his impressive form, Bulut made a move to Greek side Iraklis in 2016 but was unable to fire scoring only one goal in 17 appearances
A return to the Wanderers in 2016 failed to be the fairytale comback Bulut and the RBB would have hoped for as the striker struggled for form before being released midway through the season.