The veteran had caught on briefly in New Orleans during training camp.
Freeman, 29, is a former fourth-round pick of the Falcons back in 2014. He was in the final year of his four-year, $2.7 million contract when he and the Falcons agreed to a five-year, $41.25 million extension that included $22 million guaranteed.
Freeman was set to make base salaries of $6.5 million and $6.3 million over the next two years of the agreement when the Falcons released him last year. The Giants later signed him to a one-year deal worth up to $3 million in September only to release him.
The Bills later signed Freeman to their practice squad. He signed with the Saints during training camp.
In 2020, Freeman appeared in five games and rushed for 172 yards on 54 carries (3.2 YPC) to go along with seven receptions for 58 yards receiving and one touchdown.