Green was a big free agent addition last year but spent most of the season the team’s PUP list before being activated in November. He dealt with ankle and concussion issues last season.
Green, 26, is a former fourth-round pick of the Chargers back in 2012. He played out his rookie deal for the Chargers before signing a four-year, $20 million contract that included a $4.75 million signing bonus with the Steelers last year.
Green was set to make a base salary of $5 million for the 2017 season.
According to OverTheCap.com, releasing Green will free up $2,625,000 of available cap space while creating $3,562,500 in dead money.
In 2016, Green appeared in six games for the Steelers and caught 18 passes for 304 yards receiving and one touchdown. Pro Football Focus has him down for playing 140 total snaps last year.