Terms haven't been released.
With players reporting for camp throughout the afternoon, White was not available for comment.
Coming off a 4-12 season, Atlanta is counting on a return to full health for both White and receiver Julio Jones.
White, a four-time Pro Bowl selection, missed three games last year with ankle and hamstring injuries before finishing with 43 catches for 502 yards and two touchdowns over the last five weeks.
Jones, a Pro Bowl invitee in 2012 and the sixth overall draft pick three years ago, broke his foot in an Oct. 7 home loss to the New York Jets. He was leading the NFL with 41 catches and ranked second in yards receiving at the time.
Atlanta picked up the 2015 option on Jones' contract in April.
White holds the team records for career receptions (685) and yards receiving (9,436). But he battled ankle and hamstring injuries last season, missing three games.
The Falcons open training camp Friday.
White arrived in Atlanta nine years ago as a first-round draft pick out of Alabama-Birmingham.
He later acknowledged that immaturity and a substandard work ethic led to his struggling in 2005 and '06, but White said he cast those problems aside to become a productive receiver in '07.
Two years ago, White became the sixth NFL player with six straight seasons of at least 80 catches and 1,000 yards receiving.
AP NFL website: www.pro32.ap.org