Guerrero, 37, agreed to a minor-league assignment with the Blue Jays' Triple-A affiliate in Las Vegas. He hit .303 with four runs batted in in eight games. Previously, he hit .450 with four home runs and eight RBI in four games at Single-A Dunedin.
He asked Toronto to either move him back to the major leagues or release him. The Blue Jays opted for the release.
Guerrero was with Baltimore last season, hitting .290 with 13 home runs and 63 RBI in 145 games. Guerrero broke into the major leagues in 1996 with Montreal and also played for the Los Angeles Angels and Texas before joining Baltimore.
In 16 seasons, Guerrero appeared in 2,147 games, hitting .318 with 449 home runs and 1,496 RBI. He was selected for all-star teams nine times, most recently in 2010. He was voted the American League Most Valuable Player in 2004 when he hit .337 with 39 home runs and 126 RBI for the Angels.