The team will save $3.433 million against this season’s salary cap by releasing Jones, who was set to make $2.95 million in 2015.
According to the report, Raiders general manager Reggie McKenzie informed Jones on Sunday of the team's plans to move forward without him and Jones confirmed his release with CSNBayArea. The team has not made an official announcement.
The Raiders drafted former Alabama wideout Amari Cooper in the first round of last week's draft and signed free agent Michael Crabtree to a one-year, $3.2 million contract last month.
Jones signed a three-year, $10 million contract with Oakland last offseason and led the team with a career-high 73 catches for 666 yards and six touchdowns.
Jones, 31, spent his first seven seasons with the Green Bay Packers before signing with the Raiders.
He has 383 career catches for 4,971 yards and 43 touchdowns.
- Scooby Axson