The Cards released Johnson prior to the start of the regular season but signed him back before Week 2 on the heels of starting running back David Johnson's wrist injury, which landed him on injured reserve.
The three-time Pro Bowler struggled mightily, however, rushing for 114 yards on 45 carries, which equates to an average of just 2.5 yards per tote.
Arizona has the NFL's worst rushing offense by far and is averaging a mere 51.8 yards per game.
The 32-year-old Johnson was once among the league's premier running backs, as he rushed for over 1,000 yards in each of his first six NFL seasons while playing for the Tennessee Titans.
In 2009, he joined the exclusive 2,000-yard club by rushing for 2,006 yards and a career-high 14 touchdowns.
Johnson hasn't been the same player in stints with the New York Jets and Cardinals since leaving the Titans, although he was effective to the tune of 814 rushing yards in 11 games for the Cards two seasons ago.
He was limited to just four contests last season due to a groin injury, and Johnson was unable to maintain his grasp on the starting job this season even with David Johnson out of the mix until at least December.
Following Chris Johnson's release, Peterson, Kerwynn Williams and Andre Ellington will compete for carries, with Ellington getting the bulk of the pass-catching work out of the backfield.