Carr added that he will mull over the possibility of calling it a career before the start of free agency this March.
Carr, 30, is a former fifth-round pick of the Chiefs back in 2008. After four years in Kansas City, Carr signed a big-money free agent deal with the Cowboys in 2012.
Carr will be entering the final year of his five-year, $50.1 million contract that included $25.5 million guaranteed and stands to make a base salary of $2,717,000 for the 2017 season.
According to $2,717,000, releasing Carr would free up $2,717,000 in available cap space while creating no dead money.
In 2016, Carr appeared in all 16 games for the Cowboys and recorded 61 tackles, one interception and nine pass defenses. Pro Football Focus has him rated as the No. 52 cornerback out of 114 qualifying players.