Housler has had dialogue with the Ravens and was offered a contract, according to sources, who said the situation could be revisited.
The 6-foot-5, 250-pound receiver ran the 40-yard dash in 4.46 seconds at the 2011 NFL scouting combine, the fastest time among any tight end that year.
Housler's role diminished as a receiver last season as the former Florida Atlantic standout caught just nine passes for 129 yards and no touchdowns in 15 games, including seven starts. He was targeted just 17 times.
Housler had a more prominent role previously with the Cardinals, catching 45 passes for 417 yards on 68 targets in 2013. He caught 39 passes for 454 yards and a touchdown as a rookie.
For his career, the former third-round draft pick has 96 receptions for 1,004 yards and one touchdown.
The Ravens return tight end Crockett Gillmore, who provides a blocking presence and caught 10 passes for 121 yards and a touchdown as a rookie last season.