The Cubs optioned Canario to Triple-A Iowa on Friday, Patrick Mooney of The Athletic reports.
The 24-year-old was called up by the Cubs just ahead of the All-Star break and will now return to Triple-A with Mike Tauchman (groin) being activated from the injured list. Canario has appeared in 15 big-league games this season and has a .280/.357/.440 slash line, but with a 39.3 percent strikeout rate.