The Raiders later announced the move.
The No. 8 overall pick in the 2010 NFL Draft was set to make $4.005 million in base salary in 2013 and had a $6.675 million salary cap number, according to Spotrac.com
"I'd like to thank the Raiders for giving me an opportunity to play in the NFL," McClain said in a statement, Rapoport reported. "I'm disappointed that it hasn't worked out better, but I'm very excited and thankful for the Raiders allowing me to get a fresh start. I will miss my teammates and wish them and the Raiders organization good luck going forward."
McClain had a career-high 99 tackles and five sacks in 2011, but never lived up to his high draft status. This is the latest cost-cutting step general manager Reggie McKenzie has taken this offseason. Wide receiver Darrius Heyward-Bey and safety Michael Huff were released. Quarterback Carson Palmer was traded to the Arizona Cardinals for next to nothing.
Follow Kareem Copeland on Twitter @kareemcopeland.