Isaac spent his entire nine-year professional career in Orlando after being selected as the No. 6 overall pick in the 2017 NBA draft.
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His tenure was heavily impacted by physical setbacks, including various knee injuries and a torn left ACL that sidelined him for two and a half years.
During the most recent season, Isaac appeared in 52 games but missed the final 17 regular-season contests and the entirety of the postseason due to a left knee sprain sustained in mid-March.
He averaged a career-low 2.5 rebounds per game and shot 18.4% from three-point range, following an earlier collective decision to add playing weight that hindered his on-court agility.
Over his career with the franchise, the 6-foot-10 forward averaged 6.8 points and 4.5 rebounds in 18.8 minutes per game.
The removal of his contract leaves Orlando with four standard-contract roster spots available as the front office evaluates late second-round draft pick Izaiyah Nelson and a second-year team option for forward Jamal Cain.
Isaac is scheduled to clear waivers at 6 p. m.
on Tuesday, at which point he becomes an unrestricted free agent eligible to negotiate with any NBA franchise.
Teams can officially begin signing free agents to new contracts starting at 12:01 p. m.
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on July 6.
