Collins, a nine-year veteran, stopped reporting to practice ahead of Week 3 as the Lions explored options for his future. Coach Dan Campbell said last week that he met with Collins to communicate the team's plans to seek a trade, but the Lions ultimately couldn't reach a deal for him.
Collins can sign with another team immediately. He is making a fully guaranteed $8.8 million from Detroit this year ($5 million bonus, $3.8 million salary).
A one-time Pro Bowler, Collins racked up 10 total tackles, with one for a loss, and a fumble recovery in back-to-back defeats to San Francisco and Green Bay this season.
Campbell said last week that he felt it was "time for a reduced role" for Collins and decided to play the younger members of the roster.
"We've been through two games now and you make your assessment and your judgement after two games and that's where we're at," Campbell said of Collins last Thursday. "There again, we felt like it was, if you're going to grow and you're going to try to get better as a team, as a unit, everything, you better do it now.
"There again, I think this is best for Jamie as well. He gets a chance to go somewhere and do what he does and we're just in a different place."