The Titans recently designated Douglas as one of their two players to return from injured reserve, so this move was expected.
Douglas, 33, is a former third-round pick of the Titans back in 2008. He spent six years in Atlanta before signing a three-year, $11.25 million contract with the Titans in 2015 that included $3.75 million guaranteed.
Douglas was set to make a base salary of $3.75 million for the 2017 season when he agreed to a $2 million pay cut back in April.
In 2016, Douglas appeared in 11 games for the Titans and caught 15 passes for 210 yards receiving and no touchdowns.