The Saints' tight end room will look completely different in 2021.
"Jared consistently displayed the playmaking skills that attracted us to him as a free agent two years ago," coach Sean Payton said in a statement. "He made a lot of big plays for us and was a positive influence on his teammates. Jared is a consummate professional who is dedicated to his craft and we wish him the best of luck in the future."
The news comes in a week where the cap-strapped Saints have been busy exploring trade options and executing creative ways to save money. 2020 third-round pick Adam Trautman is currently the only active TE on the roster.
Cook, 33, signed a two-year deal with the club following a career-best season with the Raiders in 2018 in which he recorded career highs in receptions (68) and yards (896). He served as a serviceable target for Drew Brees during his brief stint, playing in 29 games (12 starts) and contributing 1,209 yards and 16 TDs.
An undrafted rookie in 2013, Hill managed to carve out a rotational role in Payton's offense. The 30-year-old departs New Orleans after a steady eight-year run.
"He is a true professional," Saints GM Mickey Loomis said of Hill. "He has done so many things that very few people noticed but his coaches and teammates certainly were aware of his contribution to the team's success over the better part of the last decade. He played with tremendous heart and determination and personified the characteristics that we highly value. He certainly earned our respect and admiration throughout his time in our program."