The creative midfielder never made an impact at the Stadio Tardini since signing from Panathinaikos in July 2012.
The former Panathinaikos youngster had a loan spell at PAOK Salonica last season, but Parma opted to terminate his contract by mutual consent rather than attempt to find a buyer.
The 24-year-old was once considered one of the most promising Greek players, destined for a great international career, but has failed to deliver on these promises. He is now a free agent and can agree terms with any club he chooses.
There was wide speculation a few weeks ago that Ninis might be considered to return to Panathinaikos this season, but the Greens apparently decided against the notion. If they finally decide to go through with the transfer, they have until the end of the month.
Ninis has scored three goals in 31 senior caps for Greece.
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