However, he will not be leaving the Swans, but will register as a player for the forthcoming season, as well as continuing to contribute to training sessions.
Ward took over as manager in May 2017 having been caretaker boss following the departure of Leon Sterling, for whom he had been assistant.
Apart from Slimbridge, where he has had two spells, midfielder Ward has also been with Bishops Cleeve and Cirencester Town.
Chairman Barry Gay told the club`s official website: “Freddy loves the club, and we are delighted that he is keeping involved, especially in view of his long and distinguished service to Slimbridge AFC.”
Assistant Lee Driver-Dickerson will assume temporary charge of the team, and a decision on the new manager will be taken in due course.
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