The 22-year old played eight AFL games for the Tigers, including six senior appearances in 2020, since being picked up in the 2018 Rookie Draft as a Next Generation Academy selection.
Richmond General Manager of Football Talent Blair Hartley thanked Eggmolesse-Smith for his service.
“We wish Derek well in his playing career and all of his future endeavours,” Hartley told richmondfc.com.au.
“Ryan is an extremely popular and hardworking member of our group,” Hartley said.
“2020 was a difficult year for players outside of the team, Ryan endured through some injuries but still played an important role in driving high standards.
“We look forward to seeing him continue to improve next year.”
It comes ahead of next month’s virtual national draft on December 9.