The Carolina Panthers are moving on from Jonathan Stewart.

Carolina head coach Ron Rivera confirmed that the team has released the veteran running back.

"Jonathan played the game the way you want. He brought an element of toughness as a runner that set the tempo for our team," Rivera said via the team's website on Wednesday. 

"He is a great pro, and I appreciate who he is as a young man and thank him for the contribution he made."

Stewart, who turns 31 next month, has spent his entire 10-season career with Carolina and had one year remaining on his contract with a salary cap figure of $5.2million. 

Releasing him creates $3.7m in cap room for the Panthers.

He is the third Panthers veteran released this week in cost-cutting moves by general manager Marty Hurney, joining defensive end Charles Johnson and safety Kurt Coleman.

Stewart was selected by the Panthers in the first round of 2008 NFL Draft. He leaves as Carolina's all-time leader in carries (1,699) and rushing yards (7,318).

He also ranks second in rushing scores (51), 100-yard rushing games (16) and multi-rushing touchdown games (nine).