Burress, 31, is facing a serious legal battle stemming from an incident in November, when he shot himself in the thigh. He's due back in court Jun. 15.
Burress' status has been up in the air since word of the incident broke. The team maintained they would be open to a Burress return, with GM Jerry Reese reiterating that the entire team was open to him coming back.
"I am an optimist, and I believe most situations can be worked out," Reese said. "We hung in there as long as we could in hopes that there could be a resolution to this situation other than the decision we made today to release Plaxico. It wasn’t to be, so now we have to move on."
Even if the Giants hadn't released Burress, there was a good chance he wouldn't be available for much, if any, of the upcoming season. The two felony counts of criminal possession of a loaded and unlicensed weapon carries with it a mandatory three-and-a-half year minimum sentence.
The NFL will more than likely suspend Burress for violating the league's Personal Conduct Policy.