Coach Tom Coughlin announced the move Monday, saying that Schwartz would be eligible to play Sunday night against the Dallas Cowboys.
Schwartz has missed the first 10 games because of the dislocated right big toe sustained in a preseason game against the Jets on Aug. 22. He started practicing three weeks ago and Giants had to activate him Monday or keep him on injured reserve for the rest of the season.
Schwartz, a guard who also can play tackle, says he just wants to play. The Giants might need him at tackle with Justin Pugh nursing a leg injury.
Linebacker Justin Anderson was waived to create a roster spot for Schwartz.
A six-year veteran, Schwartz signed a four-year, $16.8 million contract with the Giants (3-7) in the spring.