, the announced Tuesday morning.
Byrd will replace Kurt Coleman, who is expected to miss time with a sprained knee.
Byrd, 30, had worked out with the Panthers during training camp. He is the former college teammate of Panthers running back Jonathan Stewart and tight end Ed Dickson.
Byrd, a three-time Pro Bowl selection, was with the New Orleans Saints for the past three seasons after signing a six-year, $54 million deal with the Saints in 2014. Byrd suffered a knee injury four games into the 2014 season and never regained the form that earned him those trips to the Pro Bowl while he played for the Buffalo Bills.