The remaining year on Kaberle's contract had a salary-cap charge of $4.25 million.
Kaberle, 35, appeared in 10 games for Montreal this season, with three assists and a plus-4 rating.
The native of Rakovnik, Czech Republic, was selected in the eighth round (No. 204) of the 1996 NHL Draft by the Toronto Maple Leafs. He has 87 goals and 476 assists in 984 NHL games with the Maple Leafs, Boston Bruins, Carolina Hurricanes and Canadiens. He's played in the NHL All-Star Game four times and helped the Bruins win the Stanley Cup in 2011.
The Canadiens have used the two compliance buyouts allowed by the Collective Bargaining Agreement. They used their first prior to the start of the season to buy out Scott Gomez's contract.