Martin's anticipated return comes after Raiders running back Isaiah Crowell tore his Achilles tendon during a workout with the team Tuesday and was ruled out for the season, sources told ESPN's Adam Schefter on Wednesday.
The team's move to bring back Martin was first reported by NFL Network.
Martin showed he had something left in the tank last season, rushing for a team-high 723 yards after he replaced an injured Marshawn Lynch as the Raiders' bell-cow back in Week 8. It was the third-highest single-season total of Martin's career.
Martin, who turned 30 in January, rushed for four touchdowns, and he tied Lynch for the team lead in averaging 4.2 yards per carry -- a big jump after he averaged 2.9 yards per attempt in 2017 for the Tampa Bay Buccaneers.
Martin also caught 18 passes for 116 yards, though he had some ball control issues, with three fumbles.
A two-time Pro Bowl selection with the Bucs, who selected him in the first round (31st overall) of the 2012 draft, Martin was released in 2017 following two tumultuous seasons. He entered a drug rehabilitation program and was suspended for the final game of the 2016 season and the first three games of 2017. He then was benched in favor of Peyton Barber for the final three games of the 2017 season and was a healthy scratch in Week 15 for violating a team rule.
In seven NFL seasons, Martin has rushed for 5,356 yards and 30 touchdowns. He has caught 148 passes for 1,207 yards and another two TDs.