After naming rookie DeShone Kizer as the regular season starting quarterback, the Browns had little need for the high-priced Osweiler.
The Browns acquired Osweiler in March from the Houston Texans in a deal that sent Osweiler, the Texans' 2018 second-round pick and a 2017 sixth-round pick to Cleveland in exchange for a 2017 fourth-round pick.
The Texans had signed Osweiler to a four-year, $72 million deal in free agency after Osweiler had made seven starts with the Denver Broncos in 2015.
He started 14 games for the Texans in 2016, and he completed 59 percent of his passes for 15 touchdowns and 16 interceptions. The Texans went 8-6 in those games.
The Browns gave Osweiler a shot to be the starter this season, but after he completed just 12 of 24 passes for 67 yards, no touchdowns, and an interception in two preseason games, they moved on from the 26-year-old Osweiler.
Even after releasing Osweiler, the Browns owe him $16 million in 2017.
He is now a free agent.