The running back, who hasn't played since Week 12, missed the Cardinals' past two games with a neck injury that didn't seem to be healing.
In a statement, the running back says he's focused on getting better and looking forward to next season.
Peterson rushed for 529 yards and two touchdowns this season.
Coach Bruce Arians said this week he wasn't sure whether Peterson would return from the injury and there had been no improvement in his condition. At age 32, it's no guarantee Peterson will be offered a contract next offseason. He reportedly won't need surgery, per the NFL Network's Tom Pelissero.
Before the Titans game, Peterson shared a video on Instagram that showed the exact play where he suffered his injury. He also caught 11 passes on 19 targets.
Multiple women accuse Russell Simmons of rape
The paper quoted a fourth woman, Christina Moore , who accused Simmons of groping her during a brief encounter in Miami in 2014. According to Dixon, Simmons would often harass her in the workplace and graphically describe how she aroused him in meetings.
Then, he fell back to earth, failing to rush for more than 79 yards over the next three games before suffering his neck injury.
In a separate and expected move, the team activated long snapper Aaron Brewer from injured reserve. Peterson gained just 81 yards on a measly 27 carries in four games with the Saints, but he broke out for 134 yards and two touchdowns in his first game with the Cards.
Brewer, 27, was originally placed on injured reserve with a wrist injury on October 9.
One of the greatest running backs to don a helmet might have played his last National Football League game.