No reason was given for the surprising release at the start of organized team activities.
Kendricks has spent his entire six-year career with the Eagles, appearing in 15 regular-season games last season while starting all three playoff games en route to the Super Bowl title.
The 27-year-old had two years remaining on his contract, but the latest transaction will clear $4.4 million from the team's salary cap, per Reuben Frank of NBC Sports Philadelphia.
On the other hand, it also creates $3.2 million in dead cap for the 2018 season, per Spotrac.
It also doesn't leave much depth at linebacker, especially after offseason addition Paul Worrilow tore his ACL in Tuesday's practice, per Adam Schefter of ESPN. According to John Clark of NBC Sports, the five-year veteran linebacker was carted off the field.
Former Broncos linebacker Corey Nelson could earn more playing time alongside Jordan Hicks and Nigel Bradham.
Meanwhile, Kendricks is "not expected to be unemployed long," per Schefter.
The veteran has started 74 of the 85 games he has played since entering the league in 2012, finishing last season second on the team with 77 tackles. He was especially effective when dropping into coverage, but Pro Football Focus showed he can also rush the passer when asked:
He will have plenty of time to find a new destination before the start of the season and should have no problem earning a starting role in 2018.