10:10 AM PT -- Urban Meyersays he thinks Tuesday's roster move likely spells the end of Tebow's time in the NFL ... telling reporters, "I would guess it is [over]."
"Obviously, he's his own man -- elite warrior, elite competitor -- but he's also 34 years old," Meyer said.
The Jacksonville head coach explained the team ultimately chose to move on from Tebow due to his inability to play special teams.
Meyer added that Tim handled the news very well.
"We knew it was an uphill battle for Tim," Urban said. "Players loved him. Locker room loved him. But, it was the right thing."
Tebow time in Jacksonville is officially over ... the Jaguars have just cut Tim Tebow.
The former Heisman Trophy winner announced the move himself Tuesday morning ... saying in a statement he was "grateful for the chance" the Jaguars gave him by signing him in the spring.
"Thankful for the highs and even the lows, the opportunities, and the setbacks," Tebow said. "I've never wanted to make decisions out of fear of failure and I'm grateful for the chance to have pursued a dream."
Tebow added, "Thank you the @Jaguars organization and everyone who has supported me in this journey."
The Jags inked Tebow to a 1-year contract back in May ... giving him the opportunity to switch from quarterback to tight end.
And, initially, things looked to be going well for the 34-year-old ... he looked jacked and was clearly a crowd favorite at training camp practices.