The news of Reed’s agreement was first reported by The Athletic.
Reed is familiar with the Jets’ defensive system, having played for head coach Robert Salah with the San Francisco 49ers.
The Seattle Seahawks plucked Reed off waivers from the 49ers just before the 2020 season after he suffered what was believed to be a season-ending pectoral injury. Since returning midway through that season, Reed had made 22 starts after playing his way into the starting lineup.
He has largely been Seattle’s best cornerback since, becoming a key piece of the Seahawks’ defensive turnaround over that stretch.
Reed had 17 passes defended and all four of his career interceptions with Seattle, playing on both sides of the field and at nickelback. He began the 2021 season at left cornerback and then moved back to the right side.
The emergence of the 5-foot-9, 193-pound Reed marked a departure from the norm for Seattle, which had almost exclusively played with taller cornerbacks on the outside.
The 49ers drafted Reed, who turned 25 in November, in the fifth round of the 2018 draft.
ESPN’s Brady Henderson contributed to this report.