The 28-year-old will depart the Allianz Arena on a free transfer once his contract with the Bundesliga champions has expired in June.
Real Madrid, Chelsea and Liverpool have all been linked with signing the defender.
Speaking at an unscheduled press conference, Alaba said: 'I decided to do something else after this season, to leave the club.
'It was not an easy decision to make, I have been here for 13 years and I carry this club in my heart. '
'I have not yet made the decision where to go.'
Alaba has won no fewer than 24 trophies since becoming a Bayern first team-player in 2010 after a couple of years in the club's academy.
That trophy haul includes nine German top-flight titles, six DFB Pokal crowns as well as two Champions League and Club World Cup winners medals.
Alaba has scored 33 goals in 415 appearances across all competitions for the current Bundesliga, Champions League and FIFA Club World Cup holders
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