The Titans waived Oliver on Tuesday, Jim Wyatt of the team's official site reports.
Oliver signed with the Titans in May as an undrafted free agent. The Youngstown State product entered training camp competing for a depth receiving role, and across three preseason games he accumulated eight catches on 11 targets for 90 yards and two touchdowns, both of which came in the preseason finale against the Saints on Sunday. Despite the strong finish, it wasn't enough for Oliver to crack the Titans' 53-man roster, though he could be invited back to join Tennessee's practice squad.