Rice made the announcement on his Twitter account: "?? Aaayyyyooo 12s.. SEA you in a few.. IM COMIN' HOME! #Seahawks #12thman #Round2"
Rice caught 15 passes for 231 yards and three touchdowns in eight games last season for the Super Bowl champions before tearing his anterior cruciate ligament.
Rice was signed by Seattle to a five-year, $41 million contract in 2011, but cut him in February.
In 2012, he caught 50 passes for 748 yards and seven touchdowns.
In seven career seasons, Rice has caught 243 passes for 3,592 yards and 30 touchdowns.
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Aaron Wilson covers the Ravens for The Baltimore Sun