The Lakers made the roster move Saturday as the start of free agency neared.
Bryant was a second-round pick in last year's draft. The Indiana University product excelled for the Lakers' G League affiliate but averaged 1.5 points and 1.1 rebounds in 15 appearances for Los Angeles.
Bryant's $1.38 million contract for next season would have become fully guaranteed next week.
The Lakers have spent the past year clearing salary cap room for their pursuit of elite free agents including LeBron James. Los Angeles currently has just six players under contract for next season for a total of roughly $36.1 million, along with a $5.5 million qualifying offer out to Julius Randle.
More AP NBA: www.apnews.com/tags/NBAbasketball