"He'll be back," Woy told ESPN's Andrew Brandt. "Just need to work out details (after "Dancing with the Stars")."
Driver is one of three finalists remaining on the reality show.
Packers general manager Ted Thompson and coach Mike McCarthy had been non-committal in addressing Driver's status with the team.
Driver, the Packers' all-time leader in receptions and receiving yards, finished with just 37 catches for 445 yards, his lowest totals since the 2001 season.
Information from ESPN's Andrew Brandt was used in this report.