This comes just a few days after Austin was arrested for assaulting a female and a child under the age of 12. He is also facing charges of interfering with emergency communication and larceny.
Austin, 26, signed on with the Lions as an undrafted free agent out of Elon back in 2012.
He still had one year remaining on his three-year, $1.485 million contract, which included a base salary of $585,000.
Austin has appeared in just one game since entering the league.