Las Palmas cited "irreversible personal reasons" for the decision.
The 30-year-old had a contract with the La Liga side until 2020 after signing for them a year ago following a six-month absence from the sport after leaving Italy's AC Milan.
He scored 10 goals in 28 appearances at Las Palmas including one on his debut.
Boateng has previously played for Hertha Berlin, Tottenham Hotspur, Borussia Dortmund, Portsmouth, Milan, twice, and Schalke.