Before the 2012 season, he got a five-year, $37.8 million contract extension with $23 million guaranteed, then got a one-year, $8 million extension before the 2017 season.
Stewart will re-join forces with new Giants offensive coordinator Mike Shula.
According to a report by Adam Schefter at ESPN, Stewart is expected to sign with Dave Gettleman's new team when free agency opens tomorrow.
"I am very pleased that we were able to make Jonathan a New York Football Giant", Gettleman said in a statement Tuesday. None of their backs a season ago - Orleans Darkwa, Wayne Gallman, Shane Vereen, and Paul Perkins - did anything overly impressive, and two of them (Darkwa and Vereen) are free agents.
Carolina selected Stewart with the No. 13 overall pick in 2008 out of OR, and he became the Panthers' all-time rushing leader with 7,318 rushing yards in his career. He holds the Panthers' franchise records for career rushing yards (7,318) and carries (1,699). He was also impressive in 2009, which was his only season with more than 1,000 rushing yards as he posted 1,133 and 10 touchdown runs. He has also played in seven postseason games with six starts. Stewart ran for a season-high 110 yards on 17 carries against Miami on November 13. More of a straight rusher than threat in the passing game, Stewart had 198 carries for 680 rushing yards last season, averaging a career-low 3.4 yards per carry. Including a year ago though, Stewart averaged less than four yards per carry in three of the five seasons he was running with Shula as the offensive coordinator.