Gollings, 31, made his Sevens debut in 1999 and has played in two World Cups and three Commonwealth Games.
The fly-half, who also took in spells in the Aviva Premiership with Harlequins, Newcastle and Worcester, will now leave International Sevens competitions.
"It was really disappointing not to be offered a new contract with the England Sevens team as it has been a hugely enjoyable part of my life for so many years," he said.
"I count myself very lucky to have had the opportunity to play the game I love as a profession and I'd like to thank the supporters for the way they've treated me during my time on the Sevens circuit."
England Sevens head coach Ben Ryan said: "These decisions are never taken lightly and while we understand Ben's disappointment we felt that it was one that needed to be made to move the squad and our game forward over the coming seasons.
"It doesn't detract in any way from the terrific service Ben has given England over more than a decade at the highest level. His professionalism has set a high standard to match for all those who have trained and played alongside him.
"His name is synonymous with sevens and I'm sure he will go on and enjoy an equally successful post-sevens career."
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