The Ravens re-signed tight end Dennis Pitta to a five-year, $32 million contract.
Dickson, 26, started 14 of 16 games last season and caught 25 passes for 273 yards and one touchdown.
A 2010 third-round draft pick from Oregon, Dickson has caught 111 career passes for 1,178 yards and seven touchdowns in four NFL seasons.
Dickson struggled at the start of the season after pulling his hamstring during training camp; Pitta had fractured and dislocated his hip during camp.
In 2011, as the Ravens' primary tight end, Dickson caught a career-high 54 passes for 528 yards and five touchdowns. That season, he caught a career-high 10 passes for 79 yards and two touchdowns against the Seattle Seahawks.