The 153-gamer is on the Suns' radar given the ruck conundrum that they face with co-captain and first-string ruckman Jarrod Witts going down with an ACL injury earlier in the year, and back-up ruckman Zac Smith also announcing his retirement this week.
The 199-centimetre forward has consistently ranked amongst the league's top 10 in average contested marks, and could provide some much needed depth to the Suns' ruck and key forward stocks.
After hitting the 150-game milestone with Carlton earlier this season, the 31-year-old was proud at what he had achieved in the league so far.
"The opportunity to call Carlton home and live out my boyhood dream over the past 12 years has been incredible," Casboult said following the club's decision.
"To be departing the club with life membership and after reaching the 150-game milestone earlier this year, is something I am incredibly proud of and am honoured to have been able to achieve."
The versatile key-forward will look to play his 154th and final game for Carlton whilst also seeing off club legend Eddie Betts, when the Blues face the GWS Giants at Marvel Stadium on Saturday night.