Webster appeared in only four games this season as he struggled with groin and ankle injuries and barely even practiced, let alone played, after Week 2. While injured, he lost his starting cornerback job to Trumaine McBride.
The Giants brought Webster back this year after a tough 2012 because he agreed to reduce his salary. The chances of them bringing him back in 2014 at any number are extremely slim.
Webster, 31, has spent his entire nine-year NFL career with the Giants and played on the 2007 and 2011 Super Bowl championship teams. He was the team's second-round pick (43rd overall) in the 2005 NFL draft.
To replace Webster on the active roster, the Giants signed wide receiver Julian Talley from their practice squad.
The fact that it's a receiver for whom they needed the Webster roster spot indicates at least some concern about the health of starting wide receiver Victor Cruz, who left Sunday's loss to Seattle with a concussion and a knee sprain.