Wyche: AFC divisional challengers
The team later confirmed it had reached a two-year agreement with Jones, 27, but didn't reveal financial terms.
Jones, who visited the Ravens on Sunday and also drew interest from the Carolina Panthers, caught 31 passes for 512 yards and two touchdowns last season, his fifth with the Texans, who recently cut him. His playing time increased in 2011 when the Texans' No. 1 receiver, Andre Johnson, went down with an injury.
The addition of Jones comes one week after the Ravens' director of player personnel, Eric DeCosta, said the team was happy with its receiving corps. But Jones adds depth in Baltimore, which doesn't have any proven pass catchers after starters Anquan Boldin and Torrey Smith, and helps on special teams.
"Adding Jacoby gives us another proven downfield weapon in our passing game and production with our returns," Ravens general manager Ozzie Newsome said in a statement released by the team. "His experience makes the offense better, and the competition he brings can help raise our levels at receiver and with punt and kickoff returns."
Still, Jones has three career punt returns for touchdowns and averages 23.3 yards on kickoff returns.
The Associated Press contributed to this report.