28-year-old Bell who hails from Alsager returned to the Alex back in 2010 after leaving the club back in 2007.
Bell made 36 appearances this season helping the Railwaymen secure promotion back to League One after a 3 years being in League Two.
Belly made his debut back in 2002 in a 1-1 draw away at Northampton Town and neeted his first senior goal a few games later in the 2-0 win over Colchester United.
In his first spell at the Alex he made 53 apperances of which 19 was off the bench.
During his time at the club he had spells at Shrewsbury Town and Burton Albion before joining Mansfield Town on a free in 2007. After spending one season with the Stags he then joined Macclesfield Town where he made 83 appearances of which 9 were from the bench for the Silkmen.
Bell rejoined the Railwaymen back in 2010 for a second spell and made 73 league apperances netting one goal with his last league goal for the club being in the enthralling 5-5 draw at Chesterfield.
Following Bell's release he has already been linked with a potential move up the road to our local rivals Port Vale, either way I'm sure all those connected with the club wish Lee all success who ever he signs for.