The 28 year-old has secured a two-year extension to his current loan deal at Bristol Rugby after 91 appearances in nine seasons at the Murrayfield club.
The 20-times capped internationalist, who came through the ranks at Edinburgh Academy and Stewart's Melville FP, said: "Edinburgh is my home town and I love the club but I think the time is right to pursue a new challenge here in Bristol.
"I've enjoyed my time here since arriving on loan in January and believe it's an exciting time to stay on at the club and push on for a place in the Premiership next season.
"I'd like to thank everybody at Edinburgh Rugby - I've had an incredible time playing there and will hold many fond memories."
Rennie's departure opens the door for 22 year-old back-row Hamish Watson - who yesterday signed a two-year contract extension with the club - to compete for the openside berth with appearance centurion Roddy Grant.
Edinburgh Rugby head coach, Alan Solomons, said: "Ross [Rennie] is a top bloke and has been a fine player for this club.
"We wish him all the very best at Bristol."
Edinburgh Rugby also confirmed that 23 year-old hooker Stuart McInally, who made 58 appearances for the club before joining Rennie on loan at Bristol, will return to the capital at the end of the current season as planned.
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