Injuries ended each of Walker's last two seasons along and Succop made only one field goal last season. The Titans announced the moves Friday, a day after waiving linebacker Cameron Wake and Dion Lewis.
The cuts should help create approximately $20 million more in salary cap space before NFL free agency opens March 18.
''Over the last two days I have had the difficult task of informing a number of our players they are being released,'' general manager Jon Robinson said in a statement. ''These aren't easy conversations, but I want to thank each of them for the significant contributions they have made to our organization both on and off the field. They each played a part in our success last year in ways big and small.''
Walker, 35, played his last seven seasons with the Titans after being a fifth-round draft pick by San Francisco in 2006. He caught 381 passes for 4,423 yards and 28 touchdown catches with Tennessee and has 504 catches for 5,888 yards and 36 TDs for his career.
But he had to be carted off the field in the 2018 season opener with a broken right ankle. Walker started the season and caught his 500th career pass in a win at Atlanta last September and made his 100th career start at Denver. Walker had only 21 receptions for 215 yards and two TDs last season before being placed on injured reserve after seven games.
Walker listed his numbers with the Titans through 2017 Thursday on Twitter and noted he put up the stats even when defenses knew he was getting the ball.
The Titans waived Walker with the designation of failing a physical. Robinson praised Walker as being an absolute pro on and off the field with production that speaks for itself.
''His toughness, competitiveness, attitude and professionalism are what we expect from our players,'' Robinson said. ''I want to wish him all of the best moving forward and he will forever be a Titan great.''
Succop had connected on 86.7% of his kicks in 2018 and is a 82.2% kicker in his 11 NFL seasons, making 236 of 287 field goals. The Titans signed him in 2014 after he spent his first five seasons with Kansas City, and he set an NFL record making 56 consecutive field goals inside 50 yards between 2014 and 2017.
The Titans re-signed Succop in 2018 to a deal keeping him under contract through 2022.
But he needed offseason surgery on his right, kicking leg and started the season on injured reserve. The Titans activated Succop on Nov. 2, but he made only 1-of-6 kicks before being placed back on injured reserve on Dec. 18. He was due to make $3.4 million this season.
Succop wrote on Twitter that he was thankful for his last six seasons in Tennessee and is proud to call Nashville home.
''My family and I are grateful for the support from Titans fans throughout the years!'' Succop wrote. ''Y'all are incredible! Although this past season was tough personally, I am excited for what the Lord has in store for me and my family, and I'm looking forward to coming back strong!''
Tennessee still has Greg Joseph on the roster, the fifth different kicker used last season with the Titans last in the NFL at 44.4% on field goals. He made only one field goal but was 18-of-18 on extra points.
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