The Lakers (22-42) have 18 games remaining, including Thursday at Oklahoma City.
Nash averaged 7.6 points and 4.7 assists in 10 games this season. He was bothered throughout by persistent nerve damage in his back, his lone highlight a 19-point, five-assist game against Philadelphia last month on his 40th birthday.
Kobe Bryant has "no interest" in playing for current Los Angeles Lakers coach Mike D'Antoni next season, the Sporting News reports READ MORE
The key question now is what the Lakers will do with him during the off-season. He has one more season and $9.7 million remaining on his contract.
The Lakers have until Sept. 1 to waive him via the "stretch" provision, spreading out his salary over three seasons.
Or they can bring him back next season and hope for the best, a scenario that makes sense, especially if the Lakers strike out in free agency. They could then absorb the remainder of Nash's contract in one season instead of having one-third of it also affect them in 2015-16 and 2016-17.
Nash was acquired from Phoenix in July 2012 for two first-round draft picks and two second-round draft picks.