Comcast SportsNet's Jason Quick reported the Blazers officially waived Ezeli on Friday.
Quick reported earlier on Friday the Blazers were intending to wait until the evening before making an official decision on Ezeli, keeping open the possibility they could use his $7.73 million option for next season in a potential trade.
Ezeli signed with the Trail Blazers last July after he spent the first four years of his career with the Golden State Warriors. The 27-year-old never appeared in a game with Portland after having his left knee injected with a bone marrow aspirate concentrate and Orthovisc in August.
Injuries have plagued Ezeli throughout his career. After appearing in 78 games as a rookie in 2012-13, the Nigerian big man sat out the entire 2013-14 season following right knee surgery and has played a total of 92 games over the past three seasons.
In 170 career games, Ezeli has averaged 4.2 points and 4.3 rebounds in 14.1 minutes on the court.