The Western Bulldogs are preparing to cut ties with Luke Dahlhaus after the unrestricted free agent told coach Luke Beveridge in his recent exit meeting that he will be exploring his options.

Dahlhaus has had a three-year contract on the table for several weeks and Geelong are understood to have offered him a four-year deal worth more than $500,000 a season.

A premiership player during the club's famous drought-breaking 2016 triumph, the Bulldogs have confirmed Dahlhaus' intention to leave and thanked him for his service.

Despite a brilliant individual season two years ago, Dahlhaus hasn’t been able to replicate that form, finishing outside of the top 10 in the best and fairest last year and kicking only one goal from his 17 games this year.