Franklin was forced out of the last NFL campaign during week 12 with a worrying neck injury, with his coach now revealing that he won't be returning to the team.
"I have some unfortunate news about Johnathan Franklin," McCarthy said, according to the NFL's official website.
"The organisation will address this tomorrow. All the information has come in. He will not be back with us."
Franklin later confirmed the news on Twitter, stating that he will now look to move on from football.