The team signed the signal-caller to a one-year contract in April.
The release continues a tumultuous eight months for the 26-year-old Freeman. He was benched and then released by the Tampa Bay Buccaneers in October. Shorty thereafter he signed with the Minnesota Vikings, where he played one horrific game against the Giants.
Big Blue signed Freeman not long after starting quarterback Eli Manning underwent ankle surgery. The conventional wisdom suggested that the Giants were grabbing arms in case Manning wasn't ready to thrown during offseason workouts.
Manning took most of the starter snaps this week, essentially making Freeman superfluous.
According to NJ.com's Jordan Raanan, Nassib, the 2013 fourth-round pick, took the primary second-team snaps behind Manning in Thursday's workout session. Raanan relays that during one drill Freeman lined up the offense incorrectly and was immediately subbed out, with Painter taking his place.
With Manning appearing back at full-go just seven weeks after ankle surgery, the Giants didn't need the extra arms in camp. Freeman's release paves the way for Nassib to be Manning's backup in 2014.
Freeman, on the other hand, will look for a team hoping to squeeze one last chance out of a once-talented player with a turbulent career.