The former Great Britain International, who signed from Crusaders after a short spell in prison last year, scored 4 tries in 18 appearances for the Bulls in 2011.
Raynor stated “I Would just like to thank Bradford for the chance they gave me last year, I hope I did enough to show the club and fans the decision to gamble and sign me was the right one. The club has been fantastic with me and my family.
“Again to the Bradford Bulls fans thanks for your support you have been brilliant in the support you have given me and I wish you a good season next year.”
An official statement from the club is expected shortly.