Owings Mills, MD (SportsNetwork.com) - The Baltimore Ravens have agreed to terms with defensive end Chris Canty less than three weeks after cutting him.

The Ravens said Wednesday they agreed to terms on a two-year deal with Canty, whose contract was terminated on Feb. 27 with one year remaining. According to reports at the time, the move saved the Ravens $2.6 million against the salary cap.

The new deal is for a total of $4.65 million and his salary cap number for 2015 is $1.75 million, according to the Baltimore Sun.

"We talked weeks ago about the possibility of Chris coming back, and we are happy he is," Ravens general manager Ozzie Newsome said in a statement.

Canty spent the past two seasons in Baltimore after playing four years with the New York Giants and four seasons with the Dallas Cowboys. He was a Super Bowl champion with the Giants in 2011 and had considered retirement after last season concluded.

The 10-year veteran had 33 tackles and a half-sack last season. He has 21 1/2 sacks with 335 tackles in his career.

The Ravens also re-signed defensive lineman Lawrence Guy to a two-year deal on Wednesday. Guy appeared in 11 games for the Ravens last season, making 16 tackles. The three-year NFL veteran has also played for Indianapolis and San Diego.