Benjamin is set to ink a one-year deal, added Schefter, so he will be a free agent this offseason.
The Bills cut ties with Benjamin - along with fellow wideout Andre Holmes on Tuesday - 13 months after trading a third- and seventh-round pick to acquire him from the Carolina Panthers.
Benjamin had just 23 receptions for 354 yards and one touchdown in 12 games prior to his release.
However, he's landed in arguably one of the best spots for a potential comeback as the Chiefs, led by MVP front-runner Patrick Mahomes, boast one of the most explosive and productive passing games in the NFL.
Benjamin should provide depth behind Tyreek Hill and Sammy Watkins, the latter of whom has been sidelined for the past two games due to a foot injury.
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