The Eels are considered one of the leading contenders to land the signature of the Wests Tigers playmaker.
Galvin's contract with the Tigers runs until the end of the 2026 season, but the growing expectation is he will leave earlier, having been dropped after making it clear he wants to play for a different club.
The departure of Ofahengaue, who has represented Tonga and Queensland, will free up salary-cap space should Galvin be on the market this year.
Eels football manager Mark O'Neill thanked Ofahengaue for his "strong commitment" to the club.
"He's been a valued team member, and we're particularly pleased that he was able to celebrate his 200th NRL game in blue and gold - a significant milestone in any player's career," O'Neill said."One of Joe's great strengths has been his willingness to mentor and support our younger players as they transition into the NRL environment.
"He's made a lasting impression on the group, and we thank him for his leadership and service to the club."
The Eels have had a busy start to the season when it comes to contracts, watching Dylan Brown sign a 10-year deal with Newcastle worth $14 million.
Ofahengaue is expected to join Super League club Leigh Leopards.Â
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