The former New Zealand international - a hugely popular member of the squad and firm fan's favourite known as Dolph at Sixways - has always provided an abrasive and physical presence around the field for Warriors as a fine lineout forward and strong scrummager.
Head Coach Richard Hill praised Rawlinson's contribution during his time at Warriors and acknowledged the natural-born winner would be determined to go out on a high and secure promotion for the club from the RFU Championship.
"Greg has been fantastic for the club," said Hill. "He is someone who has had a very hard playing career, after always putting his body on the line week after week. But he is a true professional who never lets his standards drop and gives absolutely everything he can in a Worcester jersey.
"Greg has provided a real hard edge to the Warriors pack over the last four years. His levels of physicality have been a real asset for the club and he is also a very skilful player with his restarts and work at the set piece.
"We have had to manage him over the course of this season, in what has been an attritional campaign, and he has responded 100 percent with some very big performances for us.
"Greg is undoubtedly a fearsome customer to come up against on the field. But away from the game he is a very likeable and popular member of the squad who is admired by his team-mates and supporters. He will leave a big hole in the squad and we wish him every success after this season."
Rawlinson said: "I have really enjoyed my time at Worcester Warriors and in England. It has been a couple of tough years, but with the way the guys are working now, and the systems we have in place, I know that if we play to our potential we can gain promotion back to the Premiership.
"I have always had a great relationship with the fans who have backed me since my arrival in 2007. Playing in front of a packed Sixways Stadium will be a special memory that will stay with me for the rest of my life.
"My focus is now on the rest of this season and doing everything I can to help the club win promotion. After that, I hope to be able to return to Sixways at some point in the future and join the fans to cheer the Warriors on."