Davis was suspended indefinitely by the league for violating the NFL's substance-abuse policy.
The pending unrestricted free agent issued a statement and said he hoped to apply for reinstatement in the fall.
Davis caught 48 passes for six touchdowns in 2009, 59 catches for three touchdowns in 2011.
He then tore his Achilles in 2012. He had seven catches in 10 games last season.
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Aaron Wilson covers the Ravens for The Baltimore Sun