Rapper Iggy Azalea is celebrating her freedom after parting ways with her record label bosses.

The Black Widow hitmaker took to Twitter on Saturday (03Nov18) to announce that she is no longer under contract with Island Records, after suffering a string of professional setbacks.

"I'm officially unsigned!" she declared.

"Wild you spend so long trying to get IN a record deal... never thought I'd be so elated to be OUT of one," she continued. "now I'm free to release whatever kinda music I like, whenever I'd like woooo (sic)!"

Iggy had signed with Island Records in February (18) after splitting from Def Jam Recordings, the label behind her 2014 debut album The New Classic.

She had hoped to drop her long awaited follow-up with Island following delay after delay at Def Jam, and in August (18), she delivered her Survive the Summer EP, which featured new tracks with fellow rappers Wiz Khalifa and Tyga.

However, her comeback plans were scuppered again in October (18), when her Bad Girls Tour of North America was unexpectedly axed.

Now Iggy will spend the next few months reworking her career relaunch, although that means fans will have to wait until early 2019 for new material.

"Well still no music this year tho (sic)...," she tweeted. "I am nowhere near ready direction wise etc with the stuff I've been working on and I don't wanna jump the gun and have some messy era aesthetically. I'm aiming to be ready to share new music early next year!"

"Who need a feature? I'm back on the block. Haha," she jokingly added, offering up her talents for new collaborations.

The news caught the eye of Azealia Banks, who used the opportunity to attack her rap rival in a bizarre rant, in which she took credit for the Fancy hitmaker's setbacks and accused Iggy of stealing her name.

"Can we all give Azealia Banks a round of applause for completely ruining whatever plan Iggy Azalea had to succeed while having stole my name?" Banks posted online. "Her white a** really thought she would be able to take what was for me and run with it."

She went on to insist Iggy's life and career would only continue to go downhill, prompting the Australian artist to hit back with a series of tweets.

"I'm so sick of her a** sitting at HOME for years thinking of me every 5 seconds and running her fingers across the keyboard. Shut the f**k up crusty!" she replied.

Taking a jab at Banks' tearful breakdown on entertainer Nick Cannon's freestyle rap battle show Wild 'n Out over the summer, Iggy added, "Where was all this energy on Wildin out (sic)?!"

She has since deleted the fiery posts.