Seferian-Jenkins did little for the Jets past year, catching 10 balls for 110 yards in seven games.
After being selected by the Buccaneers in the second round of the 2014 NFL Draft, Seferian-Jenkins had played in just 16 games over the last two seasons with Tampa Bay - exactly half of the total games available.
The Jets announced Wednesday that the National Football League has suspended Austin Seferian-Jenkins for violating its substance abuse policy. The Buccaneers promptly cut the 24-year-old and he was claimed on waivers by the Jets.
The suspension will cost Seferian-Jenkins two game checks - $124,892.
Seferian-Jenkins reached a plea deal last month in Hillsborough (Florida) County Court, but he still was subject to league discipline.
Seferian-Jenkins was arrested in the early morning hours of September 23 - an incident that included an embarrassing police cruiser dash-cam video of Seferian-Jenkins interacting with officers.The Bucs cut him within hours.
Seferian-Jenkins had 13 catches for 154 yards and 1 touchdown in 2016. In March 2013, while still in college, Seferian-Jenkins pleaded guilty to DUI and served a day in jail. He accounts for $1.1 million on the Jets' salary cap.