The signing adds more depth down the middle for the Panthers, who also acquired Steve Reinprecht during the offseason before signing him to a three-year-deal.
Moore posted 12 goals and 29 assists in 63 games for the Toronto Maple Leafs before being traded to the Buffalo Sabres at last season's trade deadline. He had just three points in 18 games in Buffalo.
The 29-year-old center has 35 goals and 100 points in 305 career NHL games.
In a news release, Panthers general manager Randy Sexton called Moore a "smart, talented, hard working player who adds further depth to our center position."
Information from ESPN.com's Pierre LeBrun was used in this report.