The Packers announced the one-year deal Tuesday.
The NFL Network reported Raji's deal will pay him $3.5 million and could reach $4 million with incentives.
Guion's deal, according to a league source, will pay him $2.75 million but could increase to $3.25 million with incentives.
The 28-year-old Raji missed the entire 2014 season after he tore the biceps in his right arm in August during a preseason game. He had returned to the Packers on a one-year, $4 million deal after he failed to find a long-term deal on the free-agent market.
Raji was expected to move back to nose tackle, the position he played in his first two years after the Packers drafted him ninth overall in 2009. Raji had moved to defensive end in the 2011 season.
Instead, Guion started every game at nose tackle for the Packers last season.
Before 2014, Raji had appeared in all but four games in his first five NFL season. His best season was 2010, when he posted 6.5 sacks.