The team then signed wide receiver Adam Jennings, a 2006 sixth-round pick of Atlanta.
Hixon underwent surgery 10 days ago after suffering a season-ending knee injury during the team's first practice on the new turf at the New Meadowlands Stadium last month.
If Hixon clears waivers, however, the Giants are expected to place the popular wide receiver on injured reserve.
The Giants have been searching for a returner to replace Hixon, who was the team's best punt and kickoff returner. Sinorice Moss, Mario Manningham and Aaron Ross are still candidates to become the team's punt returner.