Jones wrote about his exit from the Broncos in an Instagram post Tuesday.
Jones, 35, appeared in seven games for the Broncos this season, making two starts, and had an interception, three passes defensed and nine tackles. He also returned 10 punts and four kickoffs for Denver.
Jones played just five snaps on defense in Sunday's 23-22 victory over the Los Angeles Chargers and just three snaps on special teams. The Broncos used wide receiver River Cracraft instead of Jones to field a punt late in the game, with the Chargers punting deep into Broncos territory, because coach Vance Joseph said Cracraft was the most reliable option at that point in the game.
"[Cracraft] is really sure-handed. It's as simple as that. He was a sure-handed guy. ... When it's backed up like that, we put River in -- or whoever is our most sure-handed returner," Joseph said Monday.
ESPN's Jeff Legwold contributed to this report.