The roster change saves $4.8 million in cap space.
This was Jackson's second stint with the Birds after being drafted by the team in 2008.
SEE ALSO: DeSean Jackson designs cleats in honor of George Floyd, Black Lives Matter movement
He has the most 60-plus-yard touchdowns in NFL history and ranks sixth all-time in yards per reception.
DeSean Jackson has the most 60-plus-yard TDs in NFL history and ranks sixth all time in yards per reception— Jeff Skversky 6abc (@JeffSkversky) February 19, 2021
“Things didn’t really work out... Philly will always have a special place in my heart. Looking forward to the next chapter.” -Jackson to me@6abc #DeSeanJackson https://t.co/lgV5Djm8K3 pic.twitter.com/J7obunLafx
His second go-around with the Eagles was marred with injuries.
Jackson told 6abc's Jeff Skversky that Philadelphia and the Eagles will always have a special place in his heart.
On Friday, he posted this on Instagram, "Looking forward to my next chapter... Philadelphia it's always love."
Jackson's release comes one day after the Eagles traded QB Carson Wentz to the Colts.
Philadelphia will take on $33.8 million in dead-cap space due to the Wentz trade, the largest single dead-cap hit in NFL history.
SEE ALSO: Ron Jaworski weighs in on Carson Wentz trade: 'It was a bad marriage'