The 25-year-old Jones appeared in 14 games this season, averaging 1.6 points and 1.3 rebounds per game. He was never able to consistently break into the playing rotation, falling behind Frank Kaminsky, Dario Saric and Jae Crowder on the depth chart.
The 6-foot-11 Jones also has played for the Warriors and Hawks during his five-year career. His most productive season came last year with the Hawks, when he averaged 5.6 points and 3.7 rebounds per game.
The Suns' roster now has 15 players.