The transaction frees up $2.45 million in salary-cap room.
A former third-round draft pick from Vanderbilt, Bennettt has 185 career receptions for 2,277 yards and a dozen touchdowns in six seasons with the Bears.
Bennett, 26, is expected to draw interest from several teams.
Follow me on Twitter: @RavensInsider
Aaron Wilson covers the Ravens for The Baltimore SunFollow @footballpost on Twitter for the latest news
This story originally appeared on Nationalfootballpost.com
- Sports & Recreation
- American Football
- Chicago Bears
- Earl Bennett
- Carolina Panthers
- Kansas City Chiefs