Beason reportedly passed his physical with the Giants on Friday.
Beason, a three-time Pro Bowler, spent six season with the Panthers and is second in franchise history in tackles.
Beason started the first 65 games of his career but has been plagued by injury in the past couple of seasons. He played in just four games last year before his season ended with left shoulder and right knee injuries.
"The trade benefits both the team and Jon. We'll obviously get something out of it, and it gives Jon an opportunity to get on the field right away," Ron Rivera said. "Jon was as professional as it gets. He truly was. That's the type of person Jon is. He and I had great conversations about stuff, and he was onboard with everything."
"It was very tough (to trade Beason) because of what he has meant to this organization, to this team, to the defense and to the linebackers," Rivera said. "He texted me this morning and said, ‘I want to make sure everybody knows I truly appreciate everything, and I love the guys in the locker room.'"