Venable appeared in five games and was in on two tackles. Walters spent the first five weeks on the Bears' practice squad after joining them as an undrafted free agent out of Delaware.
The Bears also signed receiver Max Komar and defensive end Jake Laptad to the practice squad Tuesday and terminated the practice squad contracts of receiver Kris Adams and running back Armando Allen.
Komar appeared in eight games for the Arizona Cardinals last season, catching 12 passes for 117 yards. Laptad, an undrafted rookie free agent from Kansas, spent the preseason with the Bears.