The 3x Pro Bowler posted a heartfelt video via Twitter stating that the Panthers have decided not to bring him back despite his hopes to resign as a free agent.
Davis had planned to retire following the 2018 season, but he was suspended for a PED violation prior to the season, suspending him for the first four games. He later stated that he wasn't 100 percent sure anymore whether it would be his last year.
Davis, who'll turn 36 this year, will officially become an unrestricted free agent at the start of the NFL new league year on March 13.
"I just want to thank the Carolina Panthers," Davis said. "I want to thank my teammates - you guys have been amazing. Fourteen very special years that I will always remember, that I will always cherish. To Panther nation, I cannot thank you guys enough for the love and support."
Drafted as the 14th overall pick in the 2005 NFL Draft, Davis became the team's all-time leading tackler with 1,111 combined tackles but has also been known by fans and teammates as a strong leader and inspiration after recovering from a torn ACL three separate times.
Davis tore his right ACL midway through the 2009 season, the 2010 offseason and a third time at the beginning of the 2011 season.
Davis went on to top 100 tackles in each of the five seasons following his third recovery and was named First-Team All-Pro in 2015.
In 2014, Davis received the prestigious Walter Payton Man Of The Year Award for his volunteer and charity work in the community.
Playing in 176 games with Carolina, Davis has compiled 28 sacks and 87 tackles for loss. His career tackle total ranks second among active NFL players.