The team announced Wednesday they released the soon-to-be 31-year-old running back.
The Panthers made Stewart the No. 13 overall pick in 2008. In 2017, the veteran running back became the franchise's all-time rushing leader. Stewart owns 7,318 career rushing yards on 1,699 carries.
"Jonathan played the game the way you want," coach Ron Rivera told Bill Voth of the team's official website. "He brought an element of toughness as a runner that set the tempo for our team. He is a great pro and I appreciate who he is as a young man and thank him for the contribution he made."