The 27-year-old made a name for herself with SC Heerenveen in her homeland before a successful three-year stint at Bayern Munich from 2014 to 2017, after which she signed for Arsenal.
During her seven glittering years in North London, Miedema has established a reputation as a reliable and fierce goalscorer, netting a staggering 125 goals and setting up 50 more in 172 appearances.
The Netherlands international - who is also the record goalscorer for her country across both men's and women's football - played a fundamental role in Arsenal's 2018-19 Women's Super League triumph, finishing as top scorer with 22 strikes to her name.
Miedema also won the WSL Golden Boot in the 2019-20 season, scoring 16 goals, but since sustaining a devastating ACL injury in December 2022, her Gunners career has failed to reignite.
Miedema: 'Representing Arsenal has been an absolute honour'
"After seven special years, it's time for my Arsenal journey to come to an end," Miedema told Arsenal's media channels in a farewell video. "To have represented a club like this with so much history and tradition has been an absolute honour, so above all else, I'd like to say thank you for making this chapter of my life so memorable.
"In football, you never quite know how long you'll be somewhere. You've got to enjoy each moment as it comes, but early on at Arsenal I knew that this was the place for me to grow and challenge myself, as a player and as a person too.
"Playing at Emirates Stadium is something I dreamed of as a young girl, but it's the connection we've created with our supporters that made it so special, breaking records along the way.
"I've never cared much about personal accolades, but being able to help the team and scoring goals in an Arsenal shirt has always been something I'm very proud of. The last two seasons have been tough for me, with injury and missing two cup finals, but this is a team sport and we've all got our own roles to play.
"It's always been an honour to represent the Arsenal, and it's been a pleasure to play with many talented players, ex-teammates and fellow Dutchies. Thank you for everything, Arsenal."
Edu: 'Viv has created so many wonderful memories'
Gunners sporting director Edu also paid tribute to the departing Dutch attacker to arsenal.com, saying: "On behalf of everyone at the club, we thank Viv for her huge contribution towards the success of the team during her seven years with us.
"Viv's goals and overall performances as an Arsenal player have been of the highest quality, and she has created so many wonderful memories for us over the years. We wish Viv and her family the best of health and happiness for the future."
Meanwhile, Director of Women's Football Clare Wheatley said: "Since joining us in 2017, Viv has taken on a special place in the hearts of our supporters, who I'm sure will have many fond memories of her time at Arsenal. Viv leaves with our best wishes for the future after seven memorable years here."
Owing to her previous ACL injury and another minor knee operation, which she underwent in February, Miedema has played just eight times in the WSL this season, scoring once in a 2-0 win over Liverpool in January.
However, she sits comfortably atop the all-time WSL scoring charts with 78 strikes to her name - nine more than closest challenger Bethany England - and Manchester City are supposedly interested in signing her as a free agent this summer.
Arsenal Women sit third in the WSL table and conclude their 2023-24 campaign at home to Brighton & Hove Albion on Saturday.