The move wasn't surprising, as new Colts general manager Chris Ballard is in the midst of reshaping a defense that finished 30th in the NFL last season.
The Colts signed Jones to a five-year, $33 million contract in the spring of 2014 with the expectations he would help improve their run defense.
Jones, instead, played a total of 17 regular-season games because of constant injury problems, including missing all of the 2015 season with an ankle injury. He took a pay cut in the spring of 2016 and then ended up getting a four-game suspension during the offseason for using performance-enhancing drugs.
By releasing Jones, who had 53 tackles and 1.5 sacks during his time with the Colts, Indianapolis saves about $5.15 million in salary cap space.
Since the end of last season, the Colts' defensive makeover has now seen the departure of Jones, Robert Mathis (retired), D'Qwell Jackson (released), Trent Cole (free agent), Erik Walden (free agent), Patrick Robinson (released) and Mike Adams (free agent).