Raiders general manager Reggie McKenzie reportedly called Jones last night to inform him of their decision to move on.
Th Raiders came away from the draft with Alabama WR Amari Cooper, who figures to be in line for a starting role in 2015. Oakland also signed Michael Crabtree to a contract
Jones, 31, signed a three-year contract worth $10 million with the Raiders back in 2014. The contract included $3.65 million fully guaranteed and would have paid him a salary of $2.95 million in 2015.
According to OverTheCap.com, releasing Jones will free up $3,433,333 in available cap space while creating no dead money.
In 2014, Jones appeared in all 16 games for the Raiders and caught 73 passes for 666 yards receiving and six touchdowns. Pro Football Focus has him rated as the No. 89 receiver out of 110 qualifying players.