Studying the primary αand secondary β-relaxation process has contributed significantly to the understanding of the structure and rheology of metallic glasses. In this letter, we report on a third relaxation mechanism indicated by a maximum in the loss modulus at low temperatures, which we term γ-relaxation. Contrary to the αand β-relaxation mechanisms, this irreversible, low energy excitation causes a macroscopic rejuvenation, which we assign to non-affine atomic rearrangements in the matrix that are driven by thermal stresses during cooling. Observed in three different glassy alloys, the low temperature relaxation is identified as a general process in metallic glasses.