The 32-year-old Diaz, a .300 hitter through five seasons with the team becomes a free agent.
Hinske hit .298 (14-for-47) with three homers and 12 RBIs as a pinch-hitter.
Diaz spent most of his time with the Braves in a left-field platoon. The Braves recently acquired second baseman Dan Uggla from Florida. If third baseman Chipper Jones returns from knee surgery, Martin Prado is expected to move to left field.
Diaz was slowed by a right thumb infection in 2010, when he hit only .250 with seven homers and 31 RBIs.
His overall average for five seasons with the Braves was .305. He hit .338 in 2007 and .313 in 2009, when he set career highs with 13 homers and 58 RBIs.
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