The Collingwood career of the 25 year-old is expected to continue, however, with the club intending to select Armstrong in the December 3 Rookie Draft.
After a long wait for his Collingwood debut, Armstrong played the last five matches of the 2014 season.
He had previously played a total of 29 matches with Adelaide and Sydney.
“In recognition of Tony’s strong finish we have committed to taking him as a mature-age rookie,” Collingwood GM of List Management, Derek Hine, said.
“He found his way with a number of fine performances that convinced us he has a role to play in the 2015 campaign.”
The decision enables Collingwood to make up to five selections at the November 27 National Draft, which includes the addition of father-son selection Darcy Moore.
Collingwood will take picks No. 5, No. 9 (Moore), No. 30, No. 48 and No. 85 to the Gold Coast, where the 2014 National Draft will be held.
List Changes
IN
Mason Cox (international rookie)
Cox is a 211cm ruck prospect from Oklahoma State University in the United States.
Jack Crisp (Brisbane)
Crisp is a tall midfielder with 18 senior games to his name.
Levi Greenwood (North Melbourne)
Greenwood ran third in the Kangaroos' best-and-fairest in 2014.
Travis Varcoe (Geelong)
Varcoe was a dual premiership player during Geelong's golden era.
OUT
Tony Armstrong (delisted)
Armstrong was delisted after 34 senior games (five as a Magpie). Collingwood has signaled its intent to re-select him in the Rookie Draft.
Luke Ball (retired)
Ball retired after 223 senior games.
Dayne Beams (traded to Brisbane)
Beams becomes a Lion after 110 games at Collingwood.
Marty Clarke (retired)
Clarke returns to Ireland after 73 senior games.
Ben Hudson (retired - rookie)
Hudson retired after 168 senior games.
Heritier Lumumba (traded - to Melbourne)
Lumumba moves to the Demons after 199 senior games.
Quinten Lynch (retired)
Lynch retired after 227 senior games.
Kyle Martin (retired - rookie)
Martin retired from AFL football after six senior games and will return to local football.
Nick Maxwell (retired)
Maxwell retired after 208 senior games.
Caolan Mooney (delisted - rookie)
Mooney was delisted after six senior games and will return to Ireland.
Peter Yagmoor (delisted - rookie)
Yagmoor was delisted after two senior games.
