Buffalo made the move on Tuesday after it placed rookie running back Zack Moss on injured reserve. The Bills also elevated offensive lineman Jordan Devey from the practice squad to the active roster in a corresponding transaction.
The Bills will host the Baltimore Ravens in an NFL Divisional Round matchup at 8:15 p.m. EST Saturday.
Freeman, 28, had 230 yards from scrimmage and one score in five games for the New York Giants this season before he was released on Friday. The two-time Pro Bowl selection, who played with the Atlanta Falcons for six seasons before signing with New York, will be available for promotion to the Bills' active roster before the team's game against Baltimore.
Devin Singletary is presently the top running back on the Bills depth chart. He had three carries for 21 yards and three catches for 23 yards in the Bills' win over the Colts, and 956 yards from scrimmage and two scores in 16 regular-season starts.
Buffalo had the No. 2-ranked offense in the NFL in 2020, while ranking third in the league in passing yards and 13th in rushing yards.
The winner of Saturday's game advances to the AFC Championship.