Smith, 31, shared his thoughts on his release through his Twitter account.
"It's been real Nashville time to c what team I will be on next but am thankful for everything and the lord will continue to bless me," he wrote.
The 6-foot-2, 325-pound Smith had 25 tackles and one sack last season with the Titans, starting six games, after signing as a free agent from the Kansas City Chiefs.
Smith lost weight this offseason yet had only one tackle in two preseason games.
He was scheduled to make $1.75 million this season, according to the Tennessean.
The Titans have drafted four defensive linemen in the past two drafts, however, making Smith expendable.
Information from The Associated Press was used in this report.