Martin was placed on the Reserve/Injured List by the Raiders, who also released long snapper Andrew DePaola.
Oakland signed defensive tackle Corey Liuget and linebacker Bryson Allen-Williams on Sunday.
Martin led the team with 172 carries for 723 yards and four touchdowns in his lone season in Oakland in 2018. The 30-year-old Martin was released following the season before being re-signed in May after fellow running back Isaiah Crowell sustained a torn Achilles during offseason workouts.
Oakland is expected to hand the primary rushing duties to rookie Josh Jacobs, who was selected by the club with the 24th overall pick of the 2019 NFL Draft.
Jacobs rushed for 640 yards and 11 touchdowns while playing in 15 games at Alabama last season. In three seasons, the 5-foot-10, 219-pound back rushed for 1,491 yards on 251 carries with 16 TDs and also caught five touchdown passes.
Liuget recorded 274 tackles, 24.0 sacks, six forced fumbles and six fumble recoveries in 108 games over his first eight seasons (2011-18) as a member of the Chargers.
Allen-Williams, who is an undrafted free agent out of South Carolina, made 176 tackles, 6.5 sacks and four interceptions in 43 games with the Gamecocks.
DePaola was placed on the Reserve/Injured List with a knee ailment sustained in last year's season opener with the Raiders.
--Field Level Media