Hill's tenure with the Raiders lasted all of three days after his signing was announced Monday.
He had previously spent four years with the Cincinnati Bengals, rushing 704 times for 2,873 yards and 29 touchdowns, generally splitting time with Giovani Bernard. He also caught 67 passes for 484 yards and a score with the Bengals.
He was expected to compete for a backup job with the Raiders behind phenom Josh Jacobs and alongside Lynn Bowden Jr., Jalen Richard, Rod Smith and Devontae Booker, though Las Vegas reversed course quickly.
For players on the fringes of rosters, teams can pull the rug from underneath them at a moment's notice.