Moore publicly addressed the roster move earlier Friday morning on his own personal twitter account.
"Thank you New Orleans for an amazing nine years. Who Dat Nation, the best on earth!!!," Moore wrote.
Moore caught 37 passes last season for 457 yards and two touchdowns. He missed three games due to a wrist injury.
Moore had a $5.069 million salary cap figure.
Cutting him saves $2.5 million against the salary cap. He was due a $500,000 roster bonus on March 15.
Reports surfaced Thursday that Moore was on the trading block.
"It's news to you, it's news to me people," Moore wrote Thursday. "Guess we wait n see. Appreciate the love and support from everyone tho."
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Aaron Wilson covers the Ravens for The Baltimore Sun