Per Shams Charania of The Athletic and Stadium, the Mavs waived Antetokounmpo on Friday.
Antetokounmpo was the final pick of the 2018 NBA draft by the Philadelphia 76ers, who traded his rights to the Mavericks.
Dallas gave Antetokounmpo a two-year, two-way contract in July 2018, per Yahoo Sports' Keith Smith. The 21-year-old spent most of the 2018-19 campaign in the G League, averaging 10.6 points and 6.2 rebounds in 40 games for the Texas Legends.
Power forward is a crowded position for the Mavericks heading into next season. Kristaps Porzingis figures to handle starting duties, with Dorian Finney-Smith and Maxi Kleber coming off the bench.
Antetokounmpo's size—he's listed at 6'10"—could make it easy for him to find another team willing to bet on his talent and upside before training camps begin in September.