Leak is not expected to return, the report says. The rising senior missed the 2013 season while on personal leave of absence.
Over 13 games (and seven starts) in 2014, Leak caught 20 passes for 297 yards and three touchdowns.
The 6-foot, 214-pounder hauled in three touchdowns during Maryland's spring game in April.
His production declined toward the end of the season and he did not appear in the Terrapins' bowl game against Stanford.
Leak's departure means Maryland will enter 2015 without its four leading receivers from the previous season.
The Terps went 7–6 last season in their first year in the Big Ten.