Moyer was 9-9 with a 4.84 ERA in the final season of a $14.5 million contract he signed after helping Philadelphia win the World Series in 2008.
Moyer, reserve Greg Dobbs and catcher Paul Hoover elected free agency on Thursday, reducing the Phillies' 40-man roster to 38. This was simply a procedural move, as Moyer wasn't expected to return next season.
Dobbs could've been offered arbitration, but the Phillies chose to clear roster space instead.
Moyer has 267 career wins. He missed the second half with an elbow injury.