Gerber went unclaimed when he was placed on waivers on Thursday after being sent to the minors on a conditioning stint Jan. 15.
General manager Bryan Murray said this week that one team had shown interest, but that if no deal was made by Tuesday, Gerber would be assigned to the AHL club.
That deadline passed and Gerber was sent down.
Gerber is earning $3.7 million -- with more than $1 million remaining to be paid this season -- in the final year of a three-year free-agent deal signed in 2006.
The Swiss goaltender who joined the club after helping Carolina win a Stanley Cup in 2006 was edged out by Ray Emery as the Senators starter in the 2006-07 season.
The 34-year-old Gerber is 4-9-1 this season with a 2.86 goals-against average and a .899 save percentage in 14 games. He last saw NHL action in a 6-4 loss in Boston on Jan. 8.