The former Colls captain returned for his second spell at the club last summer.
To date this season, he had made 21 appearances in all competitions for the Pitching In NPL East Division outfit.
On Picton's departure, manager Craig Rouse said: “Unfortunately in football, things don't work out the way everyone had hoped.
“Picko is a great lad and someone who I have a lot of respect for.
“A parting of the ways was the right decision for everyone, and we wish him the best of luck for the future.
“He'll be welcome down to the club at any point, and his contribution since our promotion to the NPL will always be remembered.”
Photo credit: Pontefract Collieries
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