Krauss will be selected to the Major League roster for Friday night's game against the Red Sox. To make room for Krauss, Nick Franklin was optioned to Triple-A Durham.
"Marc is a disciplined hitter who brings left-handed power to our club," said Rays vice president of baseball operations Erik Neander. "He's a good fit for our present roster and we expect him to help us against right-handed pitching, primarily at first base."
The 6-foot-2 Krauss, 27, bats left-handed and throws right-handed, weighing in at 245 pounds.
In parts of three Major League seasons with the Astros and Angels, Krauss has hit .