The team announced the move Thursday.
Pollak, a four-year veteran, provided protection that allowed Peyton Manning to lead the league in yards passing in 2010 and rank second in 2009. The Colts allowed the fewest sacks in the league both seasons.
Panthers general manager Marty Hurney says Pollak is "a very physical, smart, experienced veteran guard who will come in and compete for a starting position."
Also, defensive back R.J. Stanford has signed his one-year exclusive rights contract.