A third-round pick in the 2008 draft, Slaton enjoyed a successful rookie campaign, rushing for 1,282 yards and nine touchdowns.
His production has steadily declined, however. In 2009, the West Virginia product rushed for 437 yards. Last season, with the emergence of Arian Foster, Slaton carried the ball just 19 times for 93 yards.
Through three games this season, Slaton rushed for 20 yards on seven carries before being waived by Houston on Tuesday.
Miami waived defensive tackle Ryan Baker to make room for Slaton on the roster.