The team released receiver Bryan Walters to make room for Thompson on the active roster.
The 5-foot-10, 180-pound Thompson spent the offseason with Jacksonville before being waived in final roster cuts earlier this month.
Originally signed by Atlanta as an undrafted rookie in 2012, Thompson spent time with the Falcons, Washington and Chicago before joining the Jaguars last November. He has played in two games, both with the Jaguars in 2014.
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