It's reportedly worth $5 million.
"He's here in a role where he’s going to compete and push Geno Smith to become the very best that he can be," offensive coordinator Marty Mornhinweg said in a statement.
With Jets quarterback Geno Smith struggling as a rookie, Vick could provide a steadier alternative at the position. Vick could wind up winning a competition over Smith or stepping in if Smith isn't up to the task again.
Vick passed for five touchdowns and three interceptions with 1,215 yards in six starts last season with an 86.5 quarterback rating before Nick Foles took over the job and excelled.
Vick, 33, has passed for 24,189 career yards, 128 touchdowns and 85 interceptions.
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Aaron Wilson covers the Ravens for The Baltimore Sun