They also announced the re-signing of Mitch Honeychurch to a one-year deal.
Crameri spent four years at Whitten Oval, playing 40 games and kicking 69 goals since joining from Essendon.
His Dogs career was riddled by injury and suspension from the entire 2016 season because of his involvement in the Essendon drugs saga.
Bulldogs list manager Jason McCartney thanked Crameri for his service.
“Stewie showed what he was very capable of in those first two seasons with us, where his combination of athleticism and power was a feature,” McCartney told westernbulldogs.com.au.
“Through a variety of circumstances he’s only been able to get on the park five times over the last 24 months.”
“We thank him for his efforts and dedication to the club and wish him well in the future.”
Honeychurch earned an 11th hour reprieve after speculation he would also be deemed surplus to requirements.
McCartney said he was looking forward to watching Honeychurch develop.
“Mitch has improved every year he’s been at the Club, and if it weren’t for a late season injury, I’ve got no doubt he would have played a few more games in 2017,” McCartney added.
“We look forward to seeing Mitch continue to develop as a player and as a person in our program.”