The 38-year-old spent 10 years playing with the New Jersey Devils before stints with the Chicago Blackhawks and Minnesota Wild. He owns three Stanley Cup rings.
"John is a veteran player who brings to our team a wealth of playing experience having won two Stanley Cups with New Jersey and one with Chicago," Panthers General Manager Dale Tallon said. "He is a hard working and responsible forward who plays well at both ends of the ice and is excellent on face-offs."
Madden racked up 12 goals with 13 assists for 25 points in 76 games for Minnesota last season.
For his career, he has 162 goals with 183 assists for 345 points in regular-season play, along with 21 goals and 43 points in 134 playoff games.