Cervelli appeared in just five games before sustaining a Grade 2 right hamstring strain on April 13.
The 28-year-old, a .269 hitter over 206 career games with the Yankees, saw action in only 17 contests in 2013 due to a fractured right hand as well as a 50-game suspension as part of last summer's Biogenesis scandal.
Fellow catcher John Ryan Murphy was optioned to Triple-A Scranton/Wilkes Barre in a corresponding move.
Murphy played in 24 games after replacing the injured Cervelli in mid-April, batting .286 with one home run and eight RBI in 65 at-bats.
Notable deaths of 2014 [PHOTOS]