He has made 76 appearances for the club since intially signing on loan from Ipswich Town in January 2009 before making the move permanent at the end of that month.
Simon Grayson told the official club website: "I'd like to thank Richard for everything he has done during the two and a half years with us. He's been a great captain for the club both on and off the field and I can't speak highly enough of him and what he has done."