Boyle was a restricted free agent, and the Packers will not tender an offer to the 26-year-old.
It could provide more opportunities for Love, who was the No. 26 overall pick in the 2020 NFL draft but did not see a single snap during his first season in the league.
Love is considered the team's future at the position, but Rodgers remains QB1 after winning his third league MVP award last season.
Despite some speculation the Packers could trade the 37-year-old, general manager Brian Gutekunst shut down the trade rumors by saying last month he would "absolutely not" be dealt.
The latest move still puts Love one step closer to the starting spot after remaining inactive throughout the 2020 season.
Boyle appeared in eight games as a backup for Green Bay last season, although he was mostly used for kneel-downs at the end of blowouts. He played 22 snaps in 2020 after appearing in 21 offensive snaps the previous season.
The former undrafted free agent out of Eastern Kentucky was a fan favorite and also had support within the locker room.
"Aaron Rodgers likes Boyle a lot," Garafolo added.
It puts more pressure on Love to live up to expectations, especially if anything happens to Rodgers.