Bausby was waived by the Eagles on Monday, Mike Kaye of NJ.com reports.
Bausby was waived alongside fellow cornerback Chandon Sullivan to make room for Mike Wallace and Josh Hawkins on the active roster. The veteran cornerback logged 14 tackles across six games with the Eagles this season, and he will now search for a depth role elsewhere in the league.
Bausby was activated to the Eagles' active roster Saturday.
Bausby provides cornerback depth for Philadelphia in light of Ronald Darby's knee injury. In a corresponding move, the Eagles placed Darby on injured reserve.
The Eagles signed Bausby to a contract Tuesday.
Bausby's time as a member of the Eagles' practice squad officially came to an end Monday, so Philadelphia opted to keep him in the organization at least through its offseason program by inking him to a contract. The cornerback, whose lone four appearances in the NFL came with the Bears in 2016, faces long odds to win a roster spot with the Eagles coming out of training camp.