Morton has played 11 matches for the Swans since arriving at the end of the 2011 season in a trade with Richmond for a fourth round draft pick.
He played an important role in the Swans’ 2012 premiership success, playing in all three finals and booting two goals in the Grand Final.
“It has been an absolute privilege and honour to be part of this football club for the past two seasons and I will always be grateful for the opportunity the Club has given me to improve,” Morton said.
“The 2012 premiership will always remain the highlight of my career and I look forward to staying in close contact with my premiership teammates for many years to come.
“I’m really excited about the next challenge in my life.
“The Swans are a great Club and I look forward to buying my membership every year knowing each week the side will bring that really competitive edge."
Sydney Swans coach John Longmire said Morton remained a chance to add to his 82 game career.
“Mitch has been working away in the reserves for a number of weeks and we know he is still capable of playing good footy,” he said.
“We certainly haven’t ruled a line through him for the remainder of the season and last year is the perfect example of simply getting an opportunity and taking it.
“We bought Mitch to the Club to add a bit of firepower to our forward line and he really helped us in that area late last year.
“He is a talented player and a great character to have around the Club. He has made a real impact in only a short time."
Morton, 26, has studied management and commerce throughout his football career and plans to pursue a role in the corporate sector, while continuing his football at a state league level.
"I have been able to manage both an AFL career with study and work experience and I look forward to venturing into the corporate world and sinking my teeth into a new role," Morton said.
