The 29-year-old joined Leeds in 2006 and went on to make 77 appearances for the Whites, scoring 16 goals.
Kandol had spells with Millwall and Charlton in the 2008/09 campaign and he is now set to resume his career in Spain's Segunda Liga.
A number of clubs are thought to have looked at Kandol, but the Congo international has decided to take up Albacete's offer of a one-year deal.