Johnson was once considered one of the top running backs in the league -- he rushed for 2,006 yards as a member of the Tennessee Titans in 2009 -- but his production has dipped in recent years.
In a move that reportedly saved $6 million in cap space, Tennessee released Johnson in April of last year
The 29-year-old just completed the first year of a two-year deal that he signed with the Jets. Over 16 games in 2014, Johnson rushed for a career-low 663 yards and one touchdown on 155 carries.
The Jets did elect to pick up options for linebackers Calvin Pace and Jason Babin.
After going 4-12 and finishing fourth in the AFC East this season, New York fired general manager John Idzik and coach Rex Ryan. The Jets later hired Mike Maccagnan to replace Idzik and Todd Bowles to replace Ryan.