The Panthers also released RB Jacques Patrick from their practice squad and waived OT Matt Kaskey from injured reserve.
Bouye, 30, wound up signing on with the Texans as an undrafted free agent out of UCF back in 2013. He returned to the Texans on a one-year, $1.671 million restricted contract in 2016.
Bouye later departed for a five-year, $67.5 million with the Jaguars. However, Jacksonville opted to trade him to the Broncos last offseason. He was set to make a base salary of $13 million in 2021 when he was released by the Broncos.
He signed a two-year deal with the Panthers this past offseason.
In 2021, Bouye has appeared in 10 games for the Panthers and recorded 28 tackles, no interceptions, a forced fumble and three pass deflections.