The Patriots also released rookie tight end Zach Sudfeld.
Wilfork tore his Achilles tendon last Sunday night against the Falcons and underwent surgery this week.
Collie was spotted at Thursday's practice during media availability, though the team had not officially announced the move.
Collie spent training camp with the San Francisco 49ers but was released during final cuts. He worked out for other teams since then and now gets a chance to contribute for the Patriots, who put four of the team's six wide receivers on Wednesday's injury report.
A 2009 fourth-round pick of the Indianapolis Colts, the 27-year-old Collie was limited to one game last season because of a ruptured patellar tendon. He has also dealt with concussions in recent years.
When healthy, the 6-foot-1, 200-pounder has been a productive player. He had 172 receptions during his first three seasons, all with the Colts, and as a rookie he had 60 receptions for 676 yards while catching passes from Peyton Manning.
He will wear No. 10 with the Patriots.
New England (4-0) has been without top receiver Danny Amendola since Week 1 because of a groin issue. Rookies Kenbrell Thompkins (shoulder) and Aaron Dobson (neck) suffered injuries in Week 4 that limited them in practice Wednesday.
The status of all three was unclear for Sunday's road game against the Cincinnati Bengals (2-2).