Carolina general manager Marty Hurney announced the deal Friday but did not release financial terms of the contract.
The 25-year-old Nakamura has spent four seasons backing up Ed Reed in Baltimore. He's played in 52 games but never started on defense. He has 47 career tackles, one forced fumble and no interceptions.
Hurney says Nakamura "is a very talented young safety and has played in a lot of different spots on defense with the Ravens." The GM says he is "very smart" and is an "excellent special teams player and will help us at safety."
Nakamura could compete for Carolina's starting free safety job. Sherrod Martin struggled last season with tackling at the position.