The move was expected.
Stewart was on the physically unable to perform list for the Panthers’ first seven games with an ankle injury.
Stewart, 26, rushed for 336 yards on 93 carries in 2012 for Carolina. He figures to be a key part of a backfield that includes DeAngelo Williams and Mike Tolbert. For his career, Stewart has gained 3,836 yards and 27 touchdowns on 818 carries (4.7 ypc).
With Stewart joining the roster, the Panthers waived running back Armond Smith. Smith appeared in five games for Carolina this season, rushing four times for five yards.