Bogosian goes on waivers just over a week before the NHL trade deadline. He asked for a trade earlier this season.
The 29-year-old Bogosian has been in and out of the lineup with hip injuries and has also sat as a healthy scratch. He counts $5.14 million against the salary cap in the final year of his contract.
He would be assigned to Rochester of the American Hockey League if he clears waivers and would still count $4.07 million against Buffalo's cap.
Bogosian joined the Sabres in 2015 in a multiplayer trade with Winnipeg that was then-general manager Tim Murray's attempt to rebuild the roster. The deal hasn't panned out for Buffalo, which is now on its third coach and second GM and is in jeopardy of extending the NHL's longest active playoff drought to nine years.
Hip injuries have bothered Bogosian during his tenure in Buffalo. He has a goal and four assists in 19 games this season and 53 goals and 141 assists in 636 regular-season games with the Atlanta Thrashers, Winnipeg Jets and Sabres.
Waiving Bogosian opens a spot on Buffalo's blue line for young players like Lawrence Pilut.