The Titans also activated DB Briean Boddy-Calhoun from the practice squad COVID-19 list and placed OT Paul Adams on the list.
Jones, 32, was a first-round pick of the Falcons back in 2011. He was in the fifth year of his six-year, $81.432 million contract that includes $47 million guaranteed when he agreed to a three-year, $66 million fully guaranteed contract extension in 2019.
The Falcons traded Jones to the Titans with three years remaining on that deal. He was set to make a base salary of $15.3 million in 2021 when he restructured his deal.
In 2021, Jones has played in nine games recording 26 catches for 376 yards and no touchdowns.