Colledge, 32, tweeted Saturday night that he was released and later confirmed the move to ESPN.com, but Arizona can't announce it until the new league year begins at 4 p.m. ET Tuesday.
Colledge played three seasons for the Cardinals after spending five in Green Bay. He moves into free agency as the NFL's active leader in consecutive games played with 128 and is second in consecutive games started with 97.
A combination of Colledge's salary situation and the team's depth at guard led to his release. He was scheduled to earn $5 million in 2014 with a $7.2 million cap hit. His release will add $4.55 million of dead money to the Cardinals' total of $14.8 million.
Arizona drafted two guards last season -- Jonathan Cooper in the first round and Earl Watford in the fourth round. Last season, Colledge was moved from left to right guard to make room for Cooper, but was moved back to left guard late in the preseason after Cooper broke his leg.
With Cooper's return this season and the emergence of last year's starting right guard Paul Fanaika, as well as the team's interest in getting Watford on the field, Colledge found himself as the odd man out.
According to Pro Football Focus, Colledge allowed two sacks, nine quarterback hits and 18 quarterback hurries last season.