The club announced the departure of the 21-year-old, saying he he was leaving by mutual consent.
The fomer Blackburn Rovers colt was brought to the club by Allan Moore in July 2013 following a successful trial period. He settled in well, scoring on his league debut against Cowdenbeath, and was a key figure in the team's 1-0 win over Celtic in the League Cup shortly afterward.
But his time at the club was subsequently blighted by injury and he will now be moving on.
Morton said: "We’d like to take this opportunity to wish Reece all the best for the future. "
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