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The NFL issued a four-game suspension to Petitgout (knee) Tuesday for violation of the league's substance abuse policy.
The Buccaneers released Petitgout (knee) on Saturday.
The Buccaneers placed Petitgout (knee) on the physically unable to perform list after he flunked his physical on Friday.
Petitgout (knee) did not take part in the Buccaneers' June minicamp.
Petitgout (torn ACL, right knee) was ruled out for the season by Buccaneers head coach Jon Gruden on Monday. Petitgout suffered the injury Sunday at Carolina.