The move was expected as Jordan, who is coming off a 15-month suspension for violating the league's substance abuse policy, missed all of training camp and the preseason after undergoing knee surgery in late July. He has yet to do any on-field work with the Dolphins this summer.
He has played in only 26 games with one start and three sacks since being drafted in 2013.
Miami also placed linebacker Zach Vigil on the reserve/non-football injury list to get the roster down to 75 players by Tuesday's deadline.
The Dolphins will play the Tennessee Titans on Thursday in their preseason finale.
The Associated Press contributed to this report.