Pollard broke the news Wednesday via Twitter.
"Well Raven Nation it's been fun. My time in Baltimore is done...Thank you!" Pollard tweeted.
According to the Baltimore Sun, Pollard carried a $3.25 million cap figure for next season and was due a $500,000 roster bonus on Saturday.
Pollard had 98 tackles and one interception last season and helped the Ravens to a Super Bowl title. He had a big play, forcing a fumble in the AFC Championship game against the New England Patriots.
With the release, Pollard becomes an unrestricted free agent.