Ginn, a receiver and kick returner, reached the agreement after missing five practices for rookies. The deal means the Dolphins will have all 87 players on their roster under contract when the full squad begins training camp Saturday.
The agreement was first reported by ESPN.com.
All 10 Miami draft picks are now under contract, which is sure to please owner Wayne Huizenga. He was unhappy that the Dolphins' top picks held out in 2005 and 2006, and warned in March that any rookie holdouts this year would be benched when they finally reported.
Ginn was among the fastest players in the draft, but has been criticized for running poor routes, dropping too many passes and struggling to get off the line, and there have also been doubts about his health. He sprained his left foot during an end zone celebration after returning the opening kickoff for a touchdown at the BCS national championship game Jan. 8.
In May, Ginn said he might wear a protective boot to prevent further problems.
The Dolphins hope Ginn can bolster a sputtering offense that has been the primarily culprit in the team's five-year playoff drought.