Russell Wilson's ride in Denver has come to an end ... the Broncos just announced they're cutting their quarterback.

In a statement posted to the team's X page, head coach Sean Payton and general manger George Paton said following a talk with the 35-year-old on Monday morning, they decided they were moving on.

"We thank Russell for his contributions and dedication to our team and community while wishing him the best as he continues his career," the two said.

The release will become official once the new NFL year starts on March 13.

As shocking as it is to see a nine-time Pro Bowler and one-time Super Bowl champ hit free agency ... the decision was not surprising at all. Remember, Payton had benched Wilson back in December, following two years of mediocre play.

Plus, Wilson's contract wasn't team friendly, to say the least.

For his part, Wilson took the news in stride, saying in a lengthy statement on his own X page that he was grateful for his time in Colorado.