The 31-year-old Reed has played in 120 NFL games, 86 as a starter. He appeared in 60 games, 34 as a starter, at defensive end with the Falcons. He is projected to move to outside linebacker in Arizona's 3-4 defense.
Reed has 269 career tackles, 179 solo, to go with 21.5 sacks, 3 forced fumbles, 2 fumble recoveries and 1 interception.
Reed was a first-team all-Pac-10 selection as a senior at Arizona. He was released by the Falcons on Thursday.