The three-time Pro Bowl selection was a second round pick by the Giants in the 2015 NFL Draft. Collins, 25, missed just one start in his first three seasons. He had 96 tackles, four passes defensed and a forced fumble in 12 starts in 2018.
"I want to thank the Giants organization for believing in me and allowing me to have 4 great years in NY," Collins tweeted. "I can't express how great it was to play with my teammates and in one of the greatest cities in the world. I will forever cherish my time in the blue and white and the relationships I have built in the building and in my community. Now on to the next chapter."
Sources told NFL Network that the Giants informed Collins that he would not receive the franchise tag Tuesday. He is now set to hit free agency as one of the top defenders on the market.
The franchise tender for a safety is just over $11.1 million this offseason. Collins signed a four-year, $6.1 million rookie contract in 2015.