The Titans waived Sheffield on Monday, Jim Wyatt of the team's official site reports.
Sheffield signed with the Titans in May as an undrafted free agent. He was a long shot to make the 53-man roster, but he had his opportunities during the preseason, finishing with a 12-yard catch and 74 return yards on three kickoffs. Assuming he clears waivers, Sheffield will look to catch on with a team in need of a receiver on the practice squad.