Novak, 29, has appeared in regular season games with the Washington Redskins, Arizona Cardinals and San Diego Chargers but hasn't kicked in the league since 2008. He spent last season with the Florida Tuskers of the United Football League. He made 15 of 18 field goals and was named the league's special teams MVP.
Folk got off to a good start for the Jets, but he hit a slump in November and almost lost his job. He made 30 of 39 field goals, but he also kicked the winning 32-yarder as time expired in the divisional playoff win over the Indianapolis Colts.
After the season, Folk said he'd like to return to the Jets, but that is far from a certainty. The Jets will look to upgrade the position in the offseason.
The Jets signed linebackers Brandon Long and Garrett McIntyre to reserve/future contracts as well.