The Eagles announced the move in a statement Tuesday. Team chairman Jeffrey Lurie referred to Avant as a true professional and a role model.
"There have not been any players who have represented the Philadelphia Eagles with more class and dignity than Jason Avant," Lurie said in the statement. "Whether it was in the locker room, on the playing field or in the community, he has always been a true professional, a role model and a winner every step of the way.
"On behalf of the entire organization, I wish Jason and his wife, Stacy, and their two daughters nothing but the best as he continues his fine career."
Avant, 30, has spent his entire eight-year career with Philadelphia and developed into a reliable receiver for the Eagles.
"There's no question releasing a player like Jason is one of the toughest parts of the job," general manager Howie Roseman said. "It's a tough day when you have to say goodbye to a player who you have so much respect for. I can't thank him enough for the leadership, the big plays and the positive impression he made on so many of his teammates."
The 6-foot Avant had 38 catches for 447 yards and two touchdowns last season.
He reacted to his release in a tweet Tuesday afternoon.
No matter what I will always #bleedgreen- Jason Avant (@JasonAvant81) March 4, 2014
"In the year I spent with Jason, he was unbelievable in terms of his work ethic and his selfless nature," coach Chip Kelly said. "He was a great teammate. We know he will have a chance to sign with another team, and by releasing him now he will have a full offseason to make the necessary adjustments."