The Eagles waived Steele on Saturday, NFL reporter Jordan Schultz reports.
Steele signed a future deal with the Eagles in January. The running back played in all three preseason games for the team, logging 21 rush attempts for 59 yards as well as 14 receptions for 136 yards and two touchdowns. The 23-year-old may not have made the 53-man roster, but if he clears Monday's waiver period without being claimed, there is a strong chance he will end up back with the Eagles on the practice squad.