The front rower was initially signed up as cover for the World Cup period while Matthew Rees was playing in France with Wales, but an injury to fellow hooker Ken Owens meant Hayter stayed on longer than originally intended.
Hayter made 17 appearances in the front row, with his last appearance being against London Wasps in January.
"His original contract was as cover during the World Cup period but due to Ken's injury James (pictured) stayed on a bit longer," said Scarlets Director of Rugby Phil Davies.
"We always new James had an opportunity to work abroad in a different profession which he is looking at post-rugby.
"James showed loyal service in his short time with us. In fact James played on many occasions with an injury which illustrates his loyalty and commitment to the Scarlets."
Several Academy players have also been released. They are hooker Daniel George, winger Alec Jenkins and centres Rhys Williams and Rhys O Williams.
"I would like to thank of the players for their commitment while with the Academy," added Davies. "I wish them all the best in their future careers."