Arsenal signed Sanogo back in 2013 but the striker failed to make an impression at the Emirates.
Academy players Stefan O’Connor, Kristopher da Graca and Kostas Pileas have also been told they will not get new deals at the Emirates.
Sanogo joined Arsenal four years ago but after just 18 months at the club was loaned out to Crystal Palace.
The Frenchman then spent six months at Ajax before heading to Charlton at the back end of last season.
The 24-year-old – a free transfer from Auxerre – scored just once for the Gunners during his four years on their books.
Of the three other players released only O’Connor made a senior appearance for Arsenal, during a Champions League clash with Galatasaray in 2014.
Neither Da Graca nor Pileas earned a first-team appearance for Arsenal, playing in the U23s last term.