This comes after the Vikings opted to sign DT Dalvin Tomlinson to a two-year, $22 million on Monday.
Stephen, 30, is a former seventh-round pick of the Vikings back in 2014. He played out the final year of his four-year, $2,285,148 contract with the Minnesota Vikings before agreeing to a one-year contract with the Seahawks.
The Vikings elected to bring Stephen back in 2019 on a new three-year, $12.45 million contract.
According to OverTheCap.com, releasing Stephen will free up $3.75 million of available cap space while creating $1,333,334 million in dead money.
In 2020, Stephen appeared in all 16 games for the Vikings and recorded 34 tackles and a half sack.