The Cowboys will waive McFadden after the two sides mutually agreed to part ways, Todd Archer of ESPN.com reports.
McFadden has been stuck at fourth on the depth chart at running back all season, and even with starter Ezekiel Elliott (suspension) missing the Cowboys' last three contests, head coach Jason Garrett hasn't elected to keep McFadden active for the past two games. With an opportunity to play meaningful snaps unlikely to come McFadden's way barring an injury to either Alfred Morris or Rod Smith, the Cowboys elected to cut the veteran and allow him to pursue his options elsewhere.