Burrell has struggled since signing with the Rays before the start of the 2009 season. The designated hitter hit just .202 with two homers and 13 RBIs in 24 games this season.
Willy Aybar has seen additional playing time at DH recently as Burrell, who struck out 28 times in 84 at-bats, failed to break out of his hitting funk.
Tampa Bay will be responsible for the remainder of Burrell's $9 million salary in the second season of a $16 million, two-year contract. If he's released, a team that signs him would pay just a prorated share of the $400,000 minimum.
In the unlikely event he's traded, Burrell would receive a $200,000 bonus.