The converted wide receiver was trying to make a comeback as a tight end. He was signed by the Giants after a tryout back in May at rookie minicamp.
The 30-year-old Benjamin, who last played in the NFL with the Kansas City Chiefs during the 2018 season, looked as if he would be receiving an opportunity to resuscitate his career this summer.
He was on the field warming up for the team's first practice of training camp Wednesday when he was approached by coach Joe Judge and general manager Dave Gettleman. After a conversation that lasted several minutes, during which Benjamin appeared to be getting animated, he walked off the field and into the locker room.
His release is expected to become official Wednesday afternoon.
The Florida State product was originally a first-round pick by the Carolina Panthers in 2014, when Gettleman was the general manager. He has spent time in his career with the Panthers, Buffalo Bills and Chiefs, and he has 209 career receptions for 3,021 yards and 20 touchdowns.