Carolina also signed defensive tackle Kyle Love, who was a member of the team the past two seasons.
The Panthers created the roster space by releasing safety Marcus Ball and placing defensive end Ryan Delaire (knee) on injured reserve.
Griffin spent nine seasons with the Tennessee Titans before being released in the offseason. He later signed with the Minnesota Vikings but was placed on injured reserve due to a back injury before recently receiving his release via an injury settlement.
Griffin, 31, was a Pro Bowl selection with the Titans in 2008 and 2010. He has 25 interceptions in 141 career regular-season games (133 starts).
Love was among Carolina's final cuts earlier this month. He had 19 tackles and three sacks last season.