Hyde tore his labrum last season with the Texans. He played through it but exacerbated it in the divisional round playoff loss to the Chiefs.
Hyde had surgery in February.
Hyde, 29, had a career season in 2019. He set career highs in carries (245), rushing yards (1,070) and touches (255).
Despite his injury, Hyde played in all 16 games for only the second time in his career.
He agreed to a one-year deal worth up to $4 million, according to NFL Media.