Hollands was one of seven players delisted by the Blues on Wednesday, with former GWS star Zac Williams, Jordan Boyd, Lachie Fogarty, Lewis Young, Flynn Young and Harry Charleson also among the casualties.
But it was Hollands' axing just months after suffering an on-field mental health episode that represents the biggest story.
Carlton were fined $75,000 for their handling of Hollands during the round-six loss to Collingwood.
Hollands tallied just one disposal for the match, with his erratic behaviour catching the attention of fans even before the game started.
The 24-year-old was hospitalised days later before making the decision to step away from football to concentrate on his mental health.
It meant Hollands wasn't able to add to his 47-game AFL career, 14 of which were played at Gold Coast.
His brother Oliver Hollands remains at Carlton.
Elijah took to Instagram to share his thoughts about the end of his time at the Blues, which could also spell an end to his AFL career.
"Football means an extreme amount to me," Hollands wrote.
"My dad played professional footy, my great-grandfather played professional footy, my brother plays professional footy - it is everything I have lived and breathed for as long as I can remember.
"I have only ever wanted to do one thing my entire life: copy what was done before me and play AFL footy. It was something that I just knew I was going to do when I was a kid and it was all I ever cared about.
"And now, unfortunately, that purpose I had is no longer.
"I love this game, but I have come to realise that there are things in my life that are far more important than footy right now and they're the things I will now prioritise."
Hollands thanked the greater AFL community for their support since his mental health challenges became public.
"As an extremely confident 18-year-old, I certainly envisioned my career going a whole lot differently, but I am OK with accepting that it just isn't in the plans set for me," Hollands said.
"I'll be moving into the next chapter of my life, leaving what will feel like a big hole to fill, but I am excited about what can come from having my health and mind in much greater shape."
Carlton's other big delisting was Williams, who joined the Blues from GWS at the end of 2020 on a six-year deal believed to be worth about $5 million.
The soon-to-be 32-year-old managed only nine games this year, with his time at Carlton plagued by injuries.
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