McClain, who went from an undrafted free agent to the Ravens' starting linebacker, has agreed to a new contract with the New York Giants, confirmed league sources. Terms of his new deal aren't immediately known.
"I’ve seen some good organizations," McClain said in an interview with The Baltimore Sun earlier this week. "The next decision I make has to be the most important decision for me and my family."
The Ravens had maintained some interest in bringing McClain back after they terminated his contract on Feb. 27 with him due a $3.2 million base salary in the final year of his deal.
McClain, 28, started 10 games last season after being activated from the reserve-physically unable to perform list. He had 52 tackles and one forced fumble.
McClain, who overcame a spinal cord contusion suffered during the 2012 season, was honored by his teammates as the Ravens' Ed Block Courage award winner.
After letting McClain go and failing to this point to re-sign free agent middle linebacker Daryl Smith, the Ravens are still looking to acquire an inside linebacker.