Fisher's business manager said the 5-time NBA champion has reached a buyout agreement with the Rockets. But he did not give any indication of the 37-year-old point guard's future plans.
If Fisher clears waivers in the next few days, he will become a free agent. The Lakers traded Fisher to Houston on Thursday for backup big man Jordan Hill.
Fisher had played in 537 consecutive NBA games and had made 371 straight starts over the past five seasons for the Lakers, but the NBA players' union leader was averaging just 5.9 points - his lowest average in 13 years - and 3.3 assists this season.
The Associated Press contributed to this report.