The Panthers waived Freeman on Monday, Darin Gantt of the Panthers' official site reports.
With top back Christian McCaffrey (hamstring) returning from injured reserve ahead of Sunday's loss to the Patriots, Freeman dropped to fourth on the depth chart and was relegated to special-teams work Week 10. Over eight games with Carolina this season, the fourth-year back carried 21 times for 77 yards (3.7 average) and hauled in three of six targets for 15 yards.