Reed suffered a torn pectoral muscle during an offseason workout last month.
Reed, 23, was a fifth-round pick out of Kansas State by the 49ers in 2018. He’s entering the third year of his four-year, $2,771,371 contract and stands to make a base salary of $750,000 for the 2020 season.
The 49ers waived him with a non-football injury designation on Tuesday.
In 2019, Reed appeared in all 16 games for the 49ers and recorded seven tackles, one forced fumble, and two pass deflections.