Ian Rapoport of NFL Network noted the Vikings made the move despite having drafted cornerback Mike Hughes in the first round of the draft.
He primarily served in a reserve role behind Xavier Rhodes and Trae Waynes in 2017, registering 35 tackles, five passes defended and one interception.
Newman was originally selected by the Cowboys with the No. 5 overall pick in the 2003 NFL draft out of Kansas State.
In nine seasons with the Cowboys, Newman racked up 32 interceptions and was named to the Pro Bowl on two occasions.
He signed a free-agent deal with the Bengals in 2012 and went on to spend three seasons in Cincinnati before joining the Vikes.
Newman's signing with Minnesota in 2015 came one year after Mike Zimmer vacated his post as Bengals defensive coordinator to become the Vikings' head coach.
Zimmer and Newman have been linked throughout their careers, as Zimmer was Newman's defensive coordinator with the Cowboys from 2003 through 2006 before going on to coach him with the Bengals and Vikings as well.
Newman started all 16 games for the Vikings in 2015, but his role diminished over the next two years due to the continued improvement of Rhodes and Waynes.
He started only 10 games in 2016 before making seven starts in 2017. Despite the reserve role, he remained a valuable piece for Minnesota as a slot corner and even an occasional safety.
Over the course of his 15-year NFL career, the 39-year-old veteran has brought in 42 interceptions, which is 67th on the all-time list.