Jackson was on the books for $9.6 million in 2021, all of which the Raiders will keep off the salary cap.
A third-round pick of the Raiders in 2014, Jackson started 99 games for the Silver and Black, spending time on both the left and right sides of the offensive line.
He entered the offseason as one of several cut candidates for the Raiders, who have to clear money to comply with the falling cap. Las Vegas still has decisions to make on Richie Incognito ($5.475 million) and Trent Brown ($14 million) as the club resets its books ahead of the new league year.
The Raiders have talked about potentially trading Brown, who was limited to five games in 2020 and has two more years on his contract, a source told NFL Network's Ian Rapoport.
"If Trent is in shape and stays committed, there's not a better right tackle out there," general manager Mike Mayock said Wednesday, according to Paul Gutierrez of ESPN.
Mayock added that "the jury is still out" on Brown, who's under contract for two more years.