Omameh was one of general manager Dave Gettleman's big offseason signings. Along with left tackle Nate Solder, the veteran guard was supposed to help stabilize the offensive line.
The Giants signed Omameh to a three-year, $15 million deal earlier this year. But Omameh lost his starting job last month and became expendable after they claimed former Los Angeles Rams starting guard Jamon Brown earlier in the week.
Omameh was guaranteed $5.5 million this offseason after performing fairly well for the Jaguars last season. The Giants were his fourth team in five years.
Wide receiver/kick returner Quadree Henderson is being re-added to the active roster in Omameh's place. Henderson was waived and signed to the Giants' practice squad earlier this week.