Last year, the undrafted Florida native returned 20 kicks, averaging 22 yards per return. He also led the team with 23 punt returns.
But Parker emerged as a solid receiving option, amassing 554 yards on 40 receptions from the team's third wide receiver slot.
In his place, Sammie Stroughter and rookie Michael Smith will return the punts and kicks, respectively.
Parker struggled fielding punts at times last year and during the preseason. He will now channel his efforts towards improving the Bucs' offensive attack, which averaged just 17.9 points per game last season.