McKinley had expressed his desire to be traded before the trade deadline and took to social media to say the Falcons turned down fifth- and sixth-round draft pick offers from multiple teams despite his request to be traded.
The fourth-year veteran also said that he requested a trade last year but Atlanta turned down a second-round pick offer for him then. Now McKinley is free to choose where he goes once he clears waivers.
The Falcons declined to pick up McKinley's fifth-year option, which carried a $10.3 million price tag.
The 2017 first-round pick has been disappointing, totaling only 17.5 sacks in 49 career games. Atlanta has used a combination of Steven Means and Charles Harris more recently to replace the disgruntled McKinley.
McKinley was sidelined the past two games because of a groin injury and illness. He has played just 81 snaps and has only one sack in four games this season.