Trade talks don't seem to have gotten much traction, outside of a reported deal the Miami Dolphins backed out on at the last minute.
Anderson, 27, spent the first five years of his career in Denver after being undrafted out of California.
By releasing him now, the Broncos save $4.5 million on their books this season. The Broncos will likely select a running back in this year's draft, perhaps in the early rounds.
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Though Anderson never quite lived up to his potential in Denver, he's now arguably the top available player at his position, ahead of the likes of DeMarco Murray and Adrian Peterson. After failing to find a deal, they will release him instead.
Anderson's resume includes a Pro Bowl, two dozen TDs, a pair of playoff touchdowns and numerous game-sealing runs, none bigger than his TD plunge that capped Denver's 24-10 win over Carolina in the Super Bowl three years ago.
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While he rushed for 1,007 yards and had more than 1,200 yards from scrimmage last season, Anderson was openly angry when running backs coach Eric Studesville was sacked by Vance Joseph.
"I knew I could be released or traded at any time", Anderson said.
In the meantime, there should be teams interested in Anderson's ability.
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In his five-year Broncos career, Anderson rushed for 3,051 yards on 693 carries (4.4 yards per attempt), and 20 touchdowns.