ESPN's Jordan Raanan expects the Giants to "move on" from Rashad Jennings.
Rashad Jennings said he expects "to be back" with the Giants in 2017.
The Giants would save $2.5 million in salary cap space by releasing Rashad Jennings.
Rashad Jennings rushed five times for 29 yards and caught his lone target for a gain of four in the Giants' Wild Card loss to Green Bay.
Rashad Jennings rushed 18 times for 52 yards and a touchdown in the Giants' Week 17 win over the Redskins.
Rashad Jennings said the Giants are going to "put it all out there" Week 17 against the Redskins.
Rashad Jennings rushed nine times for 44 yards and caught 4-of-5 passes for seven yards in Week 16 against the Eagles.
Rashad Jennings rushed 18 times for 38 yards in the Giants' Week 15 win over the Lions.
Rashad Jennings had 15 carries for 45 yards and two catches for 12 yards in Week 14 against the Cowboys.
Rashad Jennings rushed six times for 19 yards and caught all six of his targets for 34 yards and a touchdown Sunday in the Giants' Week 13 loss to the Steelers.
Rashad Jennings rushed 15 times for 55 yards in the Giants' Week 12 win over the Browns.
Rashad Jennings played 47-of-67 (70%) snaps Week 11 against the Bears.
Rashad Jennings rushed 21 times for 85 yards and a touchdown in the Giants' Week 11 win over the Bears, adding five receptions for 44 additional yards.
Rashad Jennings rushed 15 times for 87 yards and caught 3-of-6 targets for 22 yards in the Giants' 21-20, Week 10 win over the Bengals.