Guards Demonte Harper, Justin Holiday and Coby Karl, and forwards Dallas Lauderdale and Adam Morrison were waived, the team announced Saturday.
Karl, the son of Nuggets coach George Karl, averaged 4.8 points, 1.3 rebounds, 2.0 assists in four preseason games, while Morrison, the third overall pick in the 2006 draft, averaged of 3.2 points and 1.4 rebounds in five games. The others played limited minutes.
Harper and Lauderdale will report to the Blazers' NBA Development League team, the Idaho Stampede.
Portland's roster stands at 15 heading into the opener.