Cooke's chances at Town were limited during the 2002/03 season with rumours of a fall out with manager Paul Groves.
Last summer Cooke was released by Town and headed to South Yorkshire and the Owls.
Despite impressing the fans, Cooke's time at Hillsborough was a mainly unhappy one with injury blighting his stay.
The release of Cooke comes as part of Chris Turner's now annual 'clear out and blame the players' routine.
