Liles's departure seemed certain after Cody Franson signed with Toronto. If he's not claimed by another NHL team, Liles could be assigned to the AHL's Toronto Marlies.
The 32-year-old has a $3.875 million salary-cap hit. If he's sent to the minors, $925,000 of that would come off the Leafs' cap under the new collective bargaining agreement.
In addition to Liles, the Leafs put forwards Trevor Smith and Troy Bodie, defenseman T.J. Brennan and Korbinian Holzer, and goaltender Drew MacIntyre on waivers with the intention of sending them to the AHL.
Those moves make it likely that 19-year-old defenseman Morgan Rielly will be on the team to start the regular season.