The Titans announced the deal Friday without disclosing financial details.
Nicks, 27, caught 38 passes for 405 yards and four touchdowns with the Indianapolis Colts last year after playing five seasons with the New York Giants. Nicks, a former first-round draft pick, has 349 career receptions for 5,027 yards and 31 touchdowns.
His best seasons came in 2010 and 2011. Nicks caught 79 passes for 1,052 yards and 11 touchdowns in 2010. He had 76 receptions for 1,192 yards and seven touchdowns in 2011.
Nicks entered the NFL in 2009 when the Giants selected him out of North Carolina with the 29th overall pick in the draft.