Other notable Giants cuts Saturday;
wide receiver Roger Lewis, who was third on the team last season with 416 receiving yards, was waived;
safety Andrew Adams, who started 17 games in his first two seasons with the Giants, was waived;
Safety Darian Thompson was released with a waived-injured designation. Thompson, a third-round pick in 2016, by the previous regime and general manager Jerry Reese, has been dealing with a hamstring injury. He was the only defensive back to start 16 games for the Giants last season.
Herzlich reacted to the news on Instagram.
Herzlich, 31, missed the 2017 season after being placed on injured reserve with a stinger he suffered early in training camp. He remained close to the team and served as a veteran present during that absence.
Primarily a special-teams contributor, Herzlich overcame long odds on his way to the NFL. He was diagnosed with Ewing's sarcoma, a rare form of cancer, while at Boston College, but returned for his senior season and was signed by the Giants as an undrafted free agent in 2011.
The inspirational linebacker completed his storybook tale when he was part of the Giants' Super Bowl XLVI team as a rookie. Eli Manning and long snapper Zak DeOssie are the only remaining Giants who were on the 2011 roster that won the Super Bowl.
Herzlich, who has been cancer-free for almost nine years, has played in 88 career games -- with 17 starts -- in his seven seasons with the Giants.
ESPN Stats & Information contributed to this report.