The decision opened $6.5 million in cap space, leaving the team $19.1 million over the threshold of $255.4 million, according to overthecap.com.
The deadline for being at or under the cap is March 13, the first day of the new league year.
Kendricks, who turned 32 less than a week ago, was a team captain last season, during which he started 14 games and finished second among the Chargers with 117 tackles.
Last March he signed a two-year deal that guaranteed him $6.75 million. Kendricks, a former UCLA standout who spent his first eight seasons with Minnesota, was due to pick up a $1.25-million roster bonus next week.
The Chargers will have to make more financially motivated moves in the coming days.
Most notably, wide receivers Keenan Allen and Mike Williams and edge rushers Khalil Mack and Joey Bosa each have a cap hit in excess of $32 million.
Among that group, Williams appears to be the most likely to be released. There also has been ongoing trade speculation involving Mack and Bosa.