The Giants placed Rowand and Tejada on waivers Thursday for the purpose of their unconditional release, the team said.
Rowand, the team's second-highest paid player behind pitcher Barry Zito, is making $12 million this season and due the same salary in 2012.
The 37-year-old Tejada received a $6.5 million, one-year deal in December to join the Giants. He was batting .239 with four homers and 26 RBIs in 91 games. He was 4 for 20 since being activated from the 15-day disabled list Aug. 16 after missing 25 games with a lower abdominal strain.