The 25-year-old has joined Macclesfield on a free transfer.
Bakare scored 11 goals in 15 appearances during his spell with Chelmsford, who he only joined in October.
"He's got electric pace and Macclesfield probably saw that when they were scouting us for the FA Cup games." said Chelmsford manager Glenn Pennyfather on his club's official website.
"When you score goals people are going to take a look. Every now and then you unearth a gem, and Macclesfield may have done just that."