The centre-half has left the Mazuma Stadium and joined Scunthorpe United on loan for the remainder of the season.
Delaney (25) was the fourth signing of the summer transfer window, penning a two-year deal following the arrival of Stephen Robinson as manager.
However, the former Republic of Ireland U21 international has found regular football hard to come by since joining the Shrimps.
He has made 15 appearances in the centre of defence, the last of which came in the 2-0 defeat at Portsmouth on December 11.
Delaney follows Jokull Andresson, Josh McPake, Callum Jones, Shayon Harrison and fellow central defender Scott Wootton in leaving the club this month.
Robinson said: “This loan move gives Ryan a good chance at getting some games under his belt from now until the end of the season.
“Ryan is a lovely lad and has been a pleasure to have in the dressing room.
“We are going to keep a close eye on him while he is away and we will reassess everything in the summer.
“At that point he will have another season left on his contract. I wish Ryan the best of luck with his move and I am sure the Scunthorpe United fans will recognise that he is a hard-working defender who gives his all week in week out.”
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