Ryans was a two-time Pro Bowl and All-Pro linebacker.
He was acquired by the Eagles in a trade with the Houston Texans in 2012.
"They're hard decisions, sometimes you have to move on from certain players. I love everything that he stood for in the organization. He's a great person. Sometimes you have to cut those ties and move on and wish him the best of luck going further," Eagles head coach Doug Pederson said.
Coach Pederson on DeMeco Ryans: Those are hard decisions. I love everything that he stood for in the organization.— Philadelphia Eagles (@Eagles) February 24, 2016
"Thanks for everything Meco! I appreciate every word of advice and the example you set! #TrueLeader," Eagles wide receiver Jordan Matthews tweeted.