He played only 13 games for the club, due to being sent off on his debut against West Ham, and then fracturing his leg on his return against Chelsea, which ruled him out for two months.
Charlton manager Alan Pardew is set to replace Traore with Manchester City's Ben Thatcher, who is close to moving south for £500,000.
Also on the way out of SE7 is winger Jerome Thomas, who is believed to be on his way to Fulham for £1 million.