According to Adrian Wojnarowski, that inevitability has finally manifested.
Livingston, 33, first joined the Warriors in the summer of 2014.
Livingston re-signed with the team in July of 2017 on a three-year, $24 million contract. He is still receiving his $2 million guarantee despite being waived.
ESPN's Bobby Marks said the move, as well as stretching out Livingston's guaranteed salary, will save the Warriors over $1 million, which will help them stay under the tax apron.
Livingston, 34, still has intentions of playing at least one more season, which would be his 16th year in the league.
"Shaun was a huge part of three National Basketball Association championship teams with the Warriors, but his overall journey is what is most remarkable", Warriors CEO Joe Lacob said in a statement.
A serious knee injury cost him the entire 2007-08 season.
Livingston, 33, was a key reserve in each of the Warriors' five straight runs to the Finals, winning three championships in that span.