The Lakers also announced Friday that an MRI exam on guard Jordan Clarkson's injured shoulder shows no significant damage.
Holmes was an undrafted rookie from the University of Texas. His departure leaves the Lakers needing to make just one more roster cut before their season opener against Minnesota on Wednesday.
Clarkson was hurt in Thursday's preseason finale against Golden State. He has a sore right shoulder, and the Lakers say they will be cautious with his recovery.
Clarkson averaged 11.9 points and 3.5 assists last season as a rookie for the Lakers.