Reaves played in six games last season, rushing 31 times for 78 yards and catching five passes for 31 yards. He would have had a tough time making the roster behind Jonathan Stewart, Fozzy Whittaker, Cameron Artis-Payne and Jordan Todman.
Carolina signed tackles Tony Hills and Davonte Wallace. Hills (6-foot-5, 305 pounds) played in three games for Dallas in 2014. He entered the league as a fourth-round pick by Pittsburgh in 2008.
Wallace (6-3, 315) was signed by Miami last season as an undrafted free agent out of New Mexico State.
Team officials said they still haven't been notified officially that tackle Jonathan Martin, claimed off waivers from San Francisco in March, is retiring as sources said on Monday was the plan.
Carolina players report to training camp at Wofford College in Spartanburg, South Carolina, on Thursday.