The person spoke to The Associated Press on condition of anonymity on Tuesday because the roster move has not been announced.
Morgan, whose release was first reported by NFL.com, had four catches for 92 yards this season and played during Sunday´s 41-10 loss to Carolina. He was also suspended for two games by coach Sean Payton for an undisclosed team violation.
The release comes a day after Payton, whose team has lost four of five games, warned that he would not rule out any lineup changes.
Payton had stuck with Morgan through major injuries and an offseason drunk driving arrest.
Morgan´s best season was 2012, when he had 10 catches for 379 yards and three touchdowns.