The Falcons waived Simon on Tuesday, Terrin Waack, Will McFadden and Tori McElhaney of the team's official site report.
Simon signed with the Falcons as an undrafted free agent in late April and finished with two catches (on three targets) for nine yards across three preseason games. He was a long shot to make the Falcons' 53-man roster, but he could remain in Atlanta as a member of the team's practice squad if he clears waivers.