Adam Thielen 2025 Fantasy Football Outlook: Is the Veteran WR Still Draftable?

Adam Thielen’s 2025 fantasy football outlook breaks down his WR2 potential, Panthers role, and whether the veteran wideout is worth drafting this season.

Carolina Panthers wide receiver Adam Thielen (19) goes in motion against the Cleveland Browns during the first quarter at Bank of America Stadium. | Jim Dedmon-Imagn Images

Adam Thielen has battled age, injuries, and declining efficiency, yet he continues to flash stretches of WR2-level production for fantasy managers. With the Carolina Panthers reshaping its wide receiver room, the veteran could still offer sneaky value—especially early in the 2025 season.

Adam Thielen, Carolina Panthers

Despite playing an entire season in 2022 for the first time since 2018, Thielen scored fewer fantasy points (180.00) in PPR formats than he did in 2020 (254.00) and 2021 (199.80). His decline came from a drop in scoring (six touchdowns – 14 in 2020 and 10 in 2021) and three consecutive years of regression in his yards per catch (13.9, 12.5, 10.8, and 10.2). The Vikings gave him 6.3 targets per game. Thielen gained over 70 yards in one matchup (8/72) while barely having a pulse over his final four games (1/6, 1/16, 2/8/1, and 3/50 on 16 combined targets).

The Panthers signed him to a three-year deal worth $25 million before the 2023 season, disregarding his age (33 at the start of the season) and his perceived decline. After an empty Week 1 (2/12), Thielen was a fantasy stud over the following six games (7/54/1, 11/145/1, 7/76, 11/107/1, 11/115/1, and 8/72 – 22.75 FPPG in PPR formats) while averaging 11.3 targets. The league caught up to him over his final 10 matchups (46/433/0 on 67 targets), with only two playable games (8/74 and 6/94). He gained only 9.8 yards per catch.

Thielen opened last season with three quiet games (3/49, 2/20, and 3/40/1) on only 12 combined targets. A hamstring injury knocked him out of the subsequent seven games. He revived his fantasy value over his last seven starts (40/506/4 on 50 targets) while shining in four matchups (8/99/1, 9/102, 5/43/1, and 5/110/2). Thielen finished the year with a five-year high in yards per catch (12.8). 

Adam Thielen 2025 Fantasy Football Outlook, Projections, Ranking

Over his 27 games with the Panthers, Thielen averaged 5.6 catches for 60 yards and 0.33 touchdowns, which translates to 13.60 FPPG in PPR formats and a backend WR2 fantasy profile. 

In the early draft season, Thielen ranks 73rd at wide receiver, as they expect him to have fewer chances with Tetairoa McMillan added to the roster and Father Time nipping at his heels. When on the field, I could still see a 5/50 player with some scoring. Thielen could be at his best early in the year until the Panthers’ top two young wide receiver establish their roles. 

Thielen is currently the WR70 in our 2025 PPR Rankings.