Last August, he suffered serious leg injuries after an incident at the family home, after which he was charged with assaulting his sister Cara.
A club statement said it was felt to be in his best interests to allow him to make a fresh start.
Davenport, a former England U21 international, began as a trainee at Coventry before moving to Tottenham in 2004, from where he was regularly sent out on loan, including a spell at West Ham before a permanent move.
If ever there's a symbol of how badly this club has been run over the past few years this is it
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But he failed to have much impact at Upton Park either, making just 13 appearances in three years, with the last one being in a 4-1 win over Portsmouth on Boxing Day 2008.
Davenport suffered serious knife wounds to both legs in the incident at the family home and spent six days in intensive care. He is provisionally due in court on 2 August to answer the assault charge.
Both West Ham and Davenport have agreed they will not comment further on his departure from the club.
Source: BBC Sport
Source: BBC Sport