Fraser’s current deal with the Cherries expires on June 30, when he will become a free agent.
The 26-year-old Scotland international has been linked with moves to Arsenal and Tottenham Hotspur in the past.
The Premier League will resume later on Wednesday after a 100-day hiatus because of the coronavirus pandemic but Fraser will only be able to feature in Bournemouth’s first two games back against Crystal Palace on Saturday and Wolverhampton Wanderers next Wednesday before walking away for free.
Fraser has featured 28 times in the Premier League this season, scoring just once and providing four assists but those figures represent a significant drop compared to seven goals and 14 top flight assists last season.
Bournemouth, who currently occupy the final relegation spot in the standings, have agreed short-term deals with veteran goalkeeper Artur Boruc, Andrew Surman, Charlie Daniels and club captain Simon Francis.
“Simon Francis, Andrew Surman, Artur Boruc and Charlie Daniels have agreed short-term contract extensions to cover the remaining nine games of the 2019/20 season,” a club statement read.
“The quartet will prove a boost to Eddie Howe and his squad as the Cherries prepare for the return of the Premier League later this week.
“Francis, who is club captain, has played the most prominent role this season with 18 appearances in all competitions, whilst vice-captain Surman has featured on nine occasions.
“Goalkeeper Boruc has been named on the bench 29 times this season, while full-back Daniels is continuing his recovery from a long-term knee injury.
“Winger Ryan Fraser has declined to sign a short-term contract extension.”
