Starks, 31, has one year remaining on his two-year, $10 million contract that included $5 million guaranteed. He would have made a base salary of $5 million for the 2015 season.
According to OverTheCap.com, releasing Starks will free up $5 million in available cap space while creating $1 million in dead money.
In 2014, Starks appeared in 15 games and recorded 27 tackles, 3.5 sacks, a fumble recovery and a pass defense for the Dolphins. Pro Football Focus has him rated as the No. 42 defensive tackle out of 81 qualifying players.
It would not be surprising to see him find a decent amount of interest in the coming days.