Tebow completed 11 of 30 passes for 145 yards with two touchdowns and two interceptions in the preseason.
He was competing for the Patriots' backup spot to Tom Brady, but did not provide a serious enough challenge to Ryan Mallett.
Tebow took to Twitter shortly after his release to say he still believes he can play football in the NFL.
"I will remain in relentless pursuit of continuing my lifelong dream of being an NFL quarterback," Tebow wrote.
Gronkowski is not expected to be ready for at least the first two games of the season, but will not be placed on the reserve/physically unable to perform list.
The team believes Gronkowski has made enough progress in recovering from forearm and back surgeries that he should be able to play within the first six weeks, according to ESPNBoston.com.
A 12-year NFL veteran, Wilson signed with the Patriots as a free agent after spending his entire career with the Arizona Cardinals.
He was listed second at safety on the Pats' depth chart. He suffered a hamstring injury early in the preseason but managed to play through it in the final three preseason games.
By placing Wilson on injured reserve, it buys the Patriots some time to make a decision on what to do with him, especially since he has a $1 million base salary that the team would be responsible for if he is activated.
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The Green Bay Packers released quarterback Vince Young on Saturday, NFL.com reported.
The move is somewhat surprising as it leaves B.J. Coleman as the only other quarterback on the roster besides starter Aaron Rodgers. The team released Graham Harrell a week ago.
Young got plenty of playing and practice time in the preseason. In the exhibition finale, a 30-8 loss to the Kansas City Chiefs on Thursday, Young completed 14 of 30 passes for 144 yards with no touchdowns and no interceptions.
Young, 30, a former first-round draft pick and a two-time Pro Bowl participant, last played in the NFL in 2011 with the Philadelphia Eagles. He was cut by the Buffalo Bills in training camp last August.
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After two years of patience, the Baltimore Ravens on Saturday finally gave up on 2011 fourth-round pick Tandon Doss, giving the wide receiver his release, according to ProFootballTalk.com.
Last season, while he appeared in 18 games (including playoffs), he made just seven catches for 123 yards. He did not catch a pass this preseason.
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The Carolina Panthers reportedly released quarterback Jimmy Clausen and cornerback Drayton Florence on Saturday.
Clausen, who was due $630,000 this season, ends a three-year tenure with the Panthers, who drafted him in the second round in 2010. He threw for 1,558 yards with three touchdowns and nine interceptions in that span.
"Just want to thank the Panthers organization and the city of Charlotte for drafting me and making this home for me the last three years!" Clausen tweeted.
His future as a starter with Carolina ended in 2011 when the team made Cam Newton the number one overall pick in the draft.
Clausen lost the backup job to Derek Anderson.
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The San Diego Chargers on Saturday released wide receiver Robert Meacham, even though he is still owed $5 million in guaranteed base salary for 2013, according to USA Today.
A former first-round pick of the New Orleans Saints in 2007, Meachem signed a $25.5 million contract with the Chargers prior to the 2012 season.
Meachem caught only 14 passes for 207 yards and two touchdowns last season.
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Veteran cornerback Antoine Winfield retired Saturday after the team reportedly was set to release or trade him.
The Seahawks also cut quarterback Brady Quinn, per his tweet, and reportedly let go defensive lineman Jaye Howard.
Winfield, 36, signed a one-year deal with the Seahawks in April, but younger players - namely Walter Thurmond and Byron Maxwell - emerged during the preseason.
He played 14 NFL seasons after being drafted in the first round in 1999 by the Buffalo Bills. He has 27 interceptions, 11 fumble recoveries and 7.5 sacks in his career.
Quinn, a former first-round pick, was beaten out by Tarvaris Jackson for the number two spot behind Russell Wilson.
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Veteran free safety Ed Reed was activated off the physically unable to perform list Saturday by the Houston Texans.
Reed signed with Houston after a stellar career with the Baltimore Ravens at the end of last season, signed with Houston. He had offseason hip surgery.
By being activated Saturday, Reed is eligible to start practicing with the team immediately and does not have to be placed on the six-week injured reserve list.
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Quarterback Greg McElroy was released on Saturday by the New York Jets, according to ESPN.com.
That leaves Mark Sanchez, Geno Smith and Matt Simms as the team's quarterbacking corps. Recently signed Graham Harrell is also still on the roster, but he played just one snap in the final preseason game against the Philadelphia Eagles.