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The 35-year-old Owens, a six-time Pro Bowler, had 69 catches for 1,052 yards and 10 touchdowns last season, all his lowest totals as a member of the Cowboys.
In January, NFL Network analyst Michael Lombardi reported the Cowboys were considering cutting Owens. The receiver was slated to carry a 2009 salary-cap number of $8.995 million. By releasing him before June, his 2009 salary-cap charge to Dallas accelerates to $9.675 million.
The Dallas Morning News reported on its web site late Wednesday that Owens was informed of the decision by team officials.
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