This move comes just five days after Moyer was designated for assignment by the team.
Despite being sent down, Moyer told Troy Renck of the Denver Post that he intends to keep on pitching.
Moyer, who turns 50 in November, made 10 starts for the Rockies with varying results. In total, he went 2-5 with a 5.70 ERA through 53.2 innings following a recovery from Tommy John surgery.
After an impressive month of April, Moyer lost three of his last four starts in May. In his last pair of outings, he gave up 13 runs on 16 hits over 8.2 innings.
The veteran southpaw became the oldest player in major league history to win a game when he recorded his first victory this season, and could set even more records as he approaches 50 years old.
In his career, he has won 269 games and owns an ERA of 4.25. He has struck out 2,441 batters as opposed to 1,155 walks.
Renck suggested the San Diego Padres as a potential fit for Moyer, and we will see within the next week or so if that's the case.