Tyree was released by the Giants as part of their final cutdown in September. He missed last season after suffering a lingering hamstring injury while coming back from offseason knee surgery.
He made one of the most remarkable catches in Super Bowl history when the Giants defeated the previously unbeaten New England Patriots.
With the Giants trailing 14-10 late in the fourth quarter and faced with a third and 5, Tyree hauled in a 32-yard pass from Eli Manning, pinning the ball against his helmet as defender Rodney Harrison yanked him to the ground.
The play set up Manning's winning touchdown pass to Plaxico Burress in the Giants' 17-14 victory.
After adding Tyree to the active roster Tuesday, the Ravens placed tight end Tony Curtis on waivers.
Information from The Associated Press was used in this report.