They want him to start for years to come after acquiring the former Houston Texans starter on Friday in exchange for a sixth-round draft pick.
"We brought Matt Schaub in to be our starting quarterback," Raiders coach Dennis Allen told reporters. "We feel very confident that he is going to be able to come in and function in that role and be outstanding for us. Obviously, we love having competition within the team, but right now Matt Schaub is our starting quarterback."
The Raiders owe Schaub $11 million this season.
Schaub is coming off a bad season in Houston where he was benched.
"We weren't going to let last season deter us from the player and the track record that he has shown over his career," offensive coordinator Greg Olson said. "He was our No. 1 target from Day One, and it was just a matter of getting the deal done."
Added Allen: "He's 32 years old and will be 33 when the season starts. You look at Tom Brady, Drew Brees, Peyton Manning, Ben Roethlisberger, all these guys are beginning to get up there in age so I think that this guy can play for a while."
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Aaron Wilson covers the Ravens for The Baltimore Sun