The Diamondbacks designated Hollowell for assignment Tuesday, Alex Weiner of ArizonaSports.com reports.
The transaction frees a spot on the 40-man roster for infielder Luis Guillorme, whom Arizona signed Tuesday. Hollowell was a waiver pickup by Arizona in June and turned in a 3.63 ERA and 24:13 K:BB over 17.1 innings during his time at Triple-A Reno.