Highly rated midfielder Josh Caddy will become one of the hottest properties in the AFL trade period after quitting the Gold Coast Suns on Monday.

Caddy, 19, has told the Suns he wants to return to Victoria to continue his football career.

He was keen to join Essendon last season but was unable to secure a suitable trade.

A top 10 draft pick, Melbourne-raised Caddy played every game for the Suns this season and is expected to blossom further.

"It was a tough decision to make as I have many great mates at the Suns and know that the club is on the right path to future success," Caddy said in a statement.

"I do though believe the move back to Melbourne is the right thing for me."

Essendon are again likely to chase Caddy, of whom coach James Hird is a big fan.

But St Kilda have been heavily linked with Caddy, though Melbourne and the Western Bulldogs could also come into play as possible homes for the midfielder because of more favourable hands in the draft.

Football operations manager Marcus Ashcroft said the Suns credited Caddy for his professionalism over the last 12 months.

"We are disappointed with Josh's decision, however we appreciate the transparency and professionalism Josh has displayed whilst making this extremely difficult decision."

Ashcroft said Gold Coast would now begin discussions with Caddy's management to make a suitable trade happen.

"Both Josh and his manager understand that it will be the club's intention to facilitate an exchange that will deliver the most favourable outcome for the advancement of our playing group," Ashcroft said.