Walters (foot) was released from the Jaguars' injured reserve list Wednesday, John Oehser of Jaguars.com reports.
Walters, who was placed on IR last week due to a foot injury, was expected to compete for punt-return duties for the Jaguars if healthy. The 29-year-old has spent time with the Chargers, Seahawks and Jaguars throughout his career, but he'll look to catch on elsewhere upon his eventual return to full health.