The defender has spent a combined 11-year association at Tynecastle over two stints, where the Scotland international also accumulated 263 appearances in the maroon shirt, with many as captain.
The 36-year-old was brought back to the club by Robbie Neilson last June after moving on loan to Dundee under Daniel Stendl. However discussions between the boss and player have revealed Berra will be free to move at the end of his present contract.
“I’ve been fortunate enough to play alongside Christophe as well as manage him and he has been a great servant to this club. You don’t play more than 250 first team games without being a top player and there will be an opportunity for him to add to that number before this season is out,” Neilson told heartsfc.co.uk.
“He’ll remain focused and continue to give his all as we look to get the Championship title clinched, then we can look back and appreciate all that he has done for this club.”
Berra has been capped 41 times for Scotland and moved to Wolves from Hearts in 2009 for a deal worth more than £2m. He later moved to Ipswich Town from Molineux before returning to Gorgie in 2017.
He won both the 2017/18 Players’ Player and Fans’ Player of the Year awards on his return and was also named in the PFA Scottish Premiership Team of the Year. He was also the youngest captain in the Scottish top flight when he assumed the armband from Craig Gordon, aged 22 in 2007.