Peterson was released by the Orioles on Tuesday, David Hall of The Virginian-Pilot reports.
Peterson was hitting .309 with nine homers, 44 RBI and 12 stolen bases over 86 games this season with Triple-A Norfolk. However, he's failed to find consistent success in the big leagues throughout his career, posting a .228/.318/.330 slash line with 18 homers and 126 RBI in 479 major-league contests.