The Colts have informed Johnson that he will be released, ESPN's Adam Schefter reports.

EDGE Analysis

The Colts hoped Johnson would add a new dimension to their passing game when they signed him to a multi-year deal last offseason, but he caught just 41 passes all season, and the team has decided to move on. Johnson's next step is uncertain, as he could land with another team or opt to retire.

Johnson will not return to the Colts next season, but it's not clear if he'll be cut or chose to retire, NFL.com reports.

EDGE Analysis

Johnson had just 41 receptions for 503 yards and four touchdowns last season and at times was the third or fourth receiver in the passing game. He may not find much of a market for his services if he decides to continue his career. It sounds like the Colts plan to take a $7.5 million cap hit if forced to cut him.

Johnson reeled in four catches and a touchdown on six targets Sunday against the Titans, finishing the season with 41 receptions for 503 yards and four touchdowns on 77 targets in 16 games played.

EDGE Analysis

In his first year with the Colts after 12 years in Houston, Johnson saw his targets nearly cut in half from the previous season with the Texans. It appears the 34-year-old veteran is beginning to slow down, while he has two years left on his current contract. Hopefully a healthy Andrew Luck in 2016 will boost Johnson's value, although he'll have to compete with young studs T.Y. Hilton, Donte Moncrief, and Phillip Dorsett for targets.

Johnson was targeted five times in Sunday's win over the Dolphins, recording three catches for 39 yards.

EDGE Analysis

Johnson has now caught three passes off of five targets in three consecutive games, a level of consistent mediocrity the former Pro-Bowl receiver is not accustomed to. It's been a season of few peaks and many valleys for Johnson, who is on pace to set career lows in catches and yards during a full season. Seeing as how the Colts will be scraping the botton of the quarterback barrel in Week 17, the season is unlikely to end on a hight note.

Johnson had three receptions for 32 yards and was targeted five times in Sunday's loss to Houston. He played just 22 of 54 snaps on offense.

EDGE Analysis

Johnson caught two touchdowns in the first meeting this season against his former team, but he waasn't a big factor Sunday. Johnson was tied for second on the team in targets, but played almost half as much as Donte Moncrief and T.Y. Hilton.

Johnson had three receptions for 19 yards and was targeted five times in Sunday's loss at Jacksonville.

EDGE Analysis

Johnson played more snaps than usual (41) with Indy falling behind early and needing to pass the ball. But even with Colts quarterbacks attempting 43 passes, Johnson remained a small part of the offense.

Johnson had two receptions for 44 yards and was targeted three times in Sunday's loss at Pittsburgh.

EDGE Analysis

Johnson had his most productive game in five games, which says more about how little a factor he is in the offense. He's fallen to the third or fourth receiver in the passing game. He played just 32 snaps on offense compared to 50 for Donte Moncrief and 55 for T.Y. Hilton.

Johnson had just one reception for 22 yards and was targeted just three times in Sunday's win over Tampa Bay.

EDGE Analysis

Meanwhile, Indy's top two receivers (T.Y Hilton and Donte Moncrief) had a combined 21 targets. Johnson has now had seven games with three or fewer receptions as he continues to be a minor factor in the passing game.

Johnson had one reception for 13 yards and was targeted just twice in Sunday's win at Atlanta.

EDGE Analysis

Johnson had previously fared better with Matt Hasselbeck at quarterback as he had two touchdowns and nine targets in two games. However, it looks like the change in quarterback won't change Johnson's fortunes as he continues to disappear most games. He's had six games with three or fewer receptions.

Johnson did not have a reception but was targeted three times in Sunday's win over Denver.

EDGE Analysis

Johnson had 17 receptions and three touchdowns in his past four games as he finally looked to be a big part of the offense. Unfortunately he returned to being invisible in the offense like he was in Week 3 and Week 4, when he failed to register a reception. Johnson can't be relied upon for consistent receptions in the offense and it's not a good sign he had just three targets in the first game under new offensive coordinator Rob Chudzinski.