"It's a great opportunity for Rashied, and we look forward to this year," Wynn Silberman said.
Davis was considered one of the core members of the Bears special teams units and a reliable backup at wide receiver. He started 12 games at receiver for the Bears in 2008, posting career highs in catches (35) and receiving yards (445).
Davis caught a season-high seven receptions for 63 yards in the Bears regular season finale loss to the Green Bay Packers at Lambeau Field.
Jeff Dickerson covers the Bears for ESPNChicago.com and ESPN 1000.