The 34-year-old Wyatt hadn’t appeared on WWE programming since the Raw after WrestleMania 37 this April.
Wyatt lost to Randy Orton at WrestleMania the previous night.
Dave Meltzer of the Wrestling Observer reported that Wyatt was told that budget cuts were the reason for his release.
Meltzer added that, prior to his release, Wyatt was preparing to return to WWE shows this August.
During his time with WWE, Wyatt held the WWE championship once, the universal championship twice, and the Raw and SmackDown tag team titles one time each.