Bennett has 433 catches for 4,573 yards and 30 touchdowns in 10 National Football League seasons.
Coincidentally, Bennett's release came just a couple of hours after news broke that his older brother, defensive end Michael Bennett, had been traded from the Seahawks to the Eagles.
The team will save $6.2 million in cap space by releasing him.
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Last month, NFL Media's Ian Rapoport said Bennett hoped to return to the NFL next season.
The Packers quickly lost interest in Bennett and released him less than two weeks later with a designation of "failure to disclose a medical condition".
No departure from the Green Bay Packers over the last nine years has probably been as contentious, and more speculated as being dishonest, than that of Martellus Bennett. Bennett previously posted on Instagram that he considered retirement after the season, but signed with the Patriots shortly afterward. Bennett also leaves no dead money against the cap.