Ashcroft has been out of the first team picture this season, going on loan to Port Vale and Huddersfield in the hope of securing a permanent move.
His only senior appearance in a Latics shirt came in October as a late substitute against West Brom in the Worthington Cup.
It's fair to say the 30-year-old has not enjoyed the happiest times since arriving at the club in a £350,000 deal from Grimsby in August 2000.
Signed by Bruce Rioch, he went on to make only 46 starts in all competitions, scoring nine goals. His last league start came in November 2001 in the 1-1 home draw against Chesterfield.
In October, Ashcroft went to Port Vale on loan, but a hamstring strain restricted him to three appearances.
Then before Christmas, a similar move to Huddersfield was arranged, with a Terriers' fan covering the cost of his ages.
But the Yorkshire club's financial plight meant they were unable to keep him at the end of his month's stay, and he has been back at Wigan since.
This week he met with manager Paul Jewell, and an agreement was reached yesterday to terminate the rest of his contract.
His departure follows those of Dave Beasant to Brighton and Ged Brannan on loan to Dunfermline.
It leaves Jewell with just 18 senior professionals at his disposal and he may well look to further strengthen the squad to help the push for promotion.
That push continues tomorrow against Blackpool and Latics hope the derby clash will attract their biggest league crowd of the campaign.
The visit of Cardiff in October drew 8,047 to the JJB Stadium, and with the Seasiders expected to be backed by 2,000, club officials are confident of bettering that figure.
Latics will be at full strength for the game, with Lee McCulloch back in contention after suspension and a clean bill of health among the rest of the squad.
McCulloch is expected to go straight back into the side on the left-wing with new signing Jimmy Bullard moving inside to the centre of midfield, probably at the expense of Paul Mitchell.
It's a game boss Jewell is looking forward to and he believes Steve McMahon's side will pose a threat.
He said: "I have seen quite a lot of Blackpool this year and they are one of the best passing sides in this division.
"The pitch probably won't help them but the same could be said for ourselves.
Play-offs
"Blackpool will be looking for a win to increase their play-off chances and I fancy them to make it into the play-offs."
Jewell admitted wintry conditions this week had made preparations difficult.
He said: "I think we have only encountered the same problem as everyone else has.
"The Soccerdome is a good facility but there is only so much you do in there.
"We were in there on Monday but you can't do any team pattern or match planning.
"But I don't imagine the weather would have been any better over in Blackpool."
Article from the WEP.