Pearce is a promising young attacking player from Bristol, signed by Fulham from Bristol Rovers two years ago on a three-year contract.
Meanwhile, Jamie Lucas is leaving Bath to obtain more game time.
Signed in the summer, the former Bristol Rovers striker has not featured regularly in the first-team starting XI and it has been agreed to cancel his contract.
Also leaving is Tom Smith, whose loan extension has been ended following a recall by his parent club Swindon Town.
Smith has had a successful loan spell at Twerton Park and the club hope his time with them has helped his development as a professional footballer.