The release of Sims came one week after the team placed Sims on injured reserve. Sims suffered a knee injury on the opening kickoff of Tampa Bay's second preseason game against the Tennessee Titans on Aug. 18.
Sims, who was re-signed by the team on the eve of the 2018 NFL Draft in April, was entering his fifth season with the Buccaneers.
A third-round draft pick of Tampa Bay out of West Virginia in 2014, Sims appeared in all 16 games in 2017, serving primarily as a third-down back. He had only 21 carries for 95 yards and added 35 receptions for 249 yards and one touchdown.
Sims had his best season in his second year with Tampa Bay. He amassed more than 1,000 yards from scrimmage in 2015, rushing for 529 yards on 107 carries and reeling in 51 catches for 561 yards and four scores.
For his career, Sims appeared in 47 games with the Buccaneers and rushed for 958 yards and two touchdowns on 245 carries. He also had 129 receptions and six more scores.
The Buccaneers released two-time Pro Bowl running back Doug Martin in the offseason and used a second-round draft pick to select running back Ronald Jones out of USC.
Jones, a Doak Walker Award finalist after rushing for 1,550 yards and 19 touchdowns with the Trojans last season, is expected to be Tampa Bay's starter.