The 29 year-old, who arrived at the region in February on a short term contract that ran until the summer, has made five appearances in an Ospreys shirt to date, and will continue to be available for selection for the remaining four Magners League games between now and the end of the season.
Ospreys Elite Performance Director Andrew Hore said:
"Filipo will be leaving us at the end of season as was originally planned when he joined us in February. He signed on a short-term contract to help us at a time when we had a number of injuries in the second row, and he has been fantastic for us, on and off the pitch, really making an impact with the squad.
"Between now and the end of the season we have four important matches in the Magners League, and Filipo will remain available for selection.
Knowing the type of individual that he is, when called upon, I have no doubt that he will continue to give 100 per cent. Filipo is and always will be an Osprey, and he knows that he will be welcomed back here at any time."
Filipo Levi has confirmed that he has signed a contract to play for Newcastle Falcons next season.
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