If a player is claimed and the waiving team exercises its rescission option, the waiving team may not use the option again for that player in that season -- a subsequent waiver would be irrevocable with a claiming team getting the player essentially for nothing. If no team claims a player off waivers after three business days, the player has cleared waivers and may be assigned to a minor league team, traded (to any team), or released outright.

How long is a player on waivers in mlb? Let's have some stream of consciousness first.
The relevant information to answer the above question is: If no team claims a player off waivers after three business days, the player has cleared waivers and may be assigned to a minor league team, traded (to any team), or released outright. So, the answer is three business days.