The release of Glavine, 43, came one day after he pitched six scoreless innings in a rehabilitation start for Atlanta's Class-A minor league affiliate at Rome, Ga., in the South Atlantic League.
"We appreciate and respect everything Tom has done for and brought to the Atlanta Braves organization and our fans," executive vice president and general manager Frank Wren said in a release.
"His accomplishments for our club during his Hall of Fame career is a measure of his dedication that we will always respect and admire. We wish him nothing but the very best."
Glavine said he was ready to pitch again in the majors and didn't need to make another minor league rehab start.
His record is 305-203 -- including 56 complete games -- in 22-plus major league seasons.
He underwent elbow and shoulder surgery last season while with the New York Mets.
He was to receive $1 million when he was added to the 25-man roster.
Later, the Braves acquired outfielder Nate McLouth from Pittsburgh for three prospects.
McLouth is batting .256 with nine homers and 34 RBI in 45 games.