The 29-year-old player joined Iranian team Esteghlal Khuzestan in 2013 and helped the team win the Iran league for the first time in 2015.
Coulibaly has also played in Iranian teams Sepahan and Naft Masjed Soleyman.
He has parted pays with Foolad by mutual consent.
Coulibaly was a member of Foolad since 2019.
Foolad had also parted ways with its South African winger Ayanda Patosi two weeks ago.