It's the end of an era in Carolina.
"The team and I are both on the same page that it is best we go in different directions for now," Olsen said in a statement. "On the field, I will always cherish the nine seasons we shared together. The wins, the losses, standing at midfield holding the Halas Trophy as NFC champs."
Olsen joined the Panthers via trade after four seasons with the Chicago Bears and immediately established himself as a dangerous weapon in Carolina's offense. The Miami product is the franchise's all-time leader in receiving yards and receptions by a tight end and ranks second among Panthers tight ends with 39 touchdown catches.
The 34-year-old has called two games for FOX Sports while injured or on a bye week and is said to have a number of broadcast opportunities should he chose to retire.
Olsen doesn't appear to be leaning toward retirement at this time, however. His agent, Drew Rosenhaus, told ESPN's Adam Schefter the tight end "is still interested in playing," adding he will be in touch with teams after the Super Bowl.