Ian Rapoport of the NFL Network reported the update Thursday and noted Vaccaro has received "multiple offers, but hadn't found the right situation yet."
His meeting with the Titans comes after the team's projected starting strong safety Johnathan Cyprien suffered a torn ACL during Wednesday's practice at training camp. He'll miss the entire 2018 season.
Vaccaro played five seasons for the Saints after the franchise selected him with the 15th overall pick in the 2013 draft. He registered 385 combined tackles, 30 passes defended, eight interceptions, 7.5 sacks and four forced fumbles across 68 appearances.
His tenure in New Orleans was plagued by inconsistent play, however. He was benched during the team's Week 2 clash with the New England Patriots last season.
In March, he discussed his impending trip into the open market with Mike Triplett of ESPN.com.
"I'm looking forward to free agency," Vaccaro said. "I love the Saints, my teammates and coaches, but it's a business and I have sacrificed too much to not go get paid and be able to keep providing for my family. That's just the way it is sometimes."
If signed by the Titans, he'd likely step right into a starting role to replace Cyprien. He'd likely need some time to get back up to full speed after his extended stay in free agency, though.
Tennessee kicks off the preseason against the Green Bay Packers next Thursday and opens the regular season by taking on the Miami Dolphins on Sept. 9.