The 29-year-old centre-back joined Bournemouth from Dutch side Feyenoord in 2022 and has made 114 Premier League appearances.
Senesi has played a key role in Bournemouth's current 16-match unbeaten run in the league and helped the side keep 11 clean sheets this season.
"I'm proud of everything we achieved over the last four years and I'm grateful for the support the fans have always given me," the Argentine said in a statement.
"AFC Bournemouth will always hold a special place for me and I will look back at my time here with fond memories.
"For now, there are still two big games left of the season and I'm looking forward to seeing what we can achieve together."
Sixth-placed Bournemouth will host Manchester City on Tuesday and will celebrate Senesi's contribution to the club after the game at the Vitality Stadium.