Raji declined an $8 million per year offer last season.
Last season, he had no sacks and played 59 percent of the snaps while finishing with a career-low 17 tackles.
The former first-round draft pick from Boston College recorded 6.5 sacks and had an interception in the NFC championship game that he returned for a touchdown.
Follow me on Twitter: @RavensInsider
Aaron Wilson covers the Ravens for The Baltimore Sun