The Lakers waived Marcus Landry on Friday night after their 111-106 preseason victory over the Utah Jazz.
Landry was a summer league standout for the Lakers in Las Vegas. Last season, he shot 42.8% from three-point range with the Reno Bighorns of the Development League.
Lakers Coach Mike D'Antoni previously coached Landry with the New York Knicks after the 6-foot-7 forward went undrafted in 2009.
Landry never quite found his outside shot with the Lakers this preseason, averaging 4.0 points and 1.2 rebounds in six appearances.
The Lakers are down to the league maximum of 15 players, four of whom won't be fully guaranteed until Jan. 10.
Shawne Williams projects to be the opening-night starter at power forward. Xavier Henry quickly earned a spot with a strong preseason.
Rookie Elias Harris has $100,000 of his contract guaranteed, which should cover at least the first month of his time with the team.
The Lakers selected Ryan Kelly with the 48th pick in the draft this year. His contract isn't guaranteed but the team may audition him for a few more months.
The Lakers' season starts Tuesday against the Clippers at Staples Center.