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The New Orleans Saints have terminated the contract of tight end Jeremy Shockey, the team announced in a statement released Tuesday afternoon.

"I'd like to thank Jeremy for the contributions he made to our team during his time in New Orleans," general manager Mickey Loomis said. "These decisions are never easy to make and we wish him the best in the future."

"Jeremy played an important role in helping our team bring a Super Bowl championship to New Orleans," said head coach Sean Payton. "He contributed to the success of our offense, both as a pass-catcher and run blocker, and we're appreciative of his efforts."

The news was first reported by FOXSports insider Jay Glazer.

As Profootballtalk.com's Michael David Smith noted this afternoon, Shockey has long been a favorite of Payton, who was the Giants’ offensive coordinator in 2002, when Shockey was the Giants’ first-round draft pick.

Shockey was acquired by the Saints in a trade with the Giants prior to the 2008 season and played three seasons in New Orleans, catching 139 passes for 1,460 yards with six touchdowns in 38 regular season games, 34 of them starts.

The nine-year veteran also played in four postseason games for the Saints, totaling nine receptions for 82 yards with two touchdowns, including a two-yard scoring grab to give the Saints a fourth-quarter lead in Super Bowl XLIV.

The University of Miami product had 41 receptions for 408 yards and three touchdowns in 13 games played in 2010, a season that saw him catch his 500th career pass.

Still, the move doesn't come as a huge surprise.

As Smith further noted, the Saints loved the production that rookie tight end Jimmy Graham had in 2010 (31 catches for 356 yards and five touchdowns), so it’s not a shock that Shockey is being let go to make room for Graham as the new No. 1 tight end in New Orleans.