Kendricks, who was cut by the Cleveland Browns before the start of the regular season, pleaded guilty to insider trading charges Sept. 6.
The 27-year-old is scheduled to be sentenced Jan. 24, meaning he will be available to the Seahawks for the remainder of the regular season. According to Schefter, federal guidelines suggest Kendricks could be sentenced to 30-37 months in prison.
Prior to his brief tenure in Cleveland, Kendricks spent the first six seasons of his career with the Philadelphia Eagles.
Last season, the 2012 second-round pick logged 73 total tackles, two sacks and six pass breakups while playing 59.6 percent of Philadelphia's defensive snaps.
Kendricks also finished with the best run-defense grade (87.4) of his career, according to Pro Football Focus.
The Seahawks will hope Kendricks can build on that campaign after the Denver Broncos gashed them to the tune of 146 rushing yards in Week 1.