Reports from last year mentioned that the Browns attempted to trade Williams before the deadline but they were ultimately unsuccessful in lining up a trade partner.
Williams, 33, spent eight years in Green Bay before signing a three-year, $21 million contract that included $10 million guaranteed with the Browns last year. He was set to make a base salary of $5.7 million for the 2017 season to go along with a $1 million roster bonus.
According to OverTheCap.com, releasing Williams will free up $6,925,000 in available cap space while creating $500,000 in dead money.
In 2016, Williams appeared in 12 games for the Browns and recorded 36 tackles, one interception and five pass defenses.