Agholor, who turns 27 on May 24, flashed brightly at times with the Philadelphia Eagles, but he struggled to find consistency during his five seasons with the team.
He fought through confidence issues early in his tenure to put together a career season in 2017, when he caught 62 passes for 768 yards and eight touchdowns. He followed that up with a nine-catch, 84-yard showing in Super Bowl LII against the New England Patriots to help Philadelphia capture its first Lombardi trophy.
Agholor, the Eagles' first-round pick out of USC in 2015, had difficulty getting on the same page with quarterback Carson Wentz last season and finished with a receptions-per-target rate of 56%, which ranked 132nd in the NFL, according to ESPN Stats & Information research. There were key drops along the way, including a costly one late in a Week 2 loss to the Atlanta Falcons.
A knee injury kept him out of five of the last six games of the 2019 regular season.
Agholor, who was at his best as a slot receiver with the Eagles, is a speedy, gifted route runner with plenty of natural ability.
In his five NFL seasons, Agholor has 224 catches on 375 targets for 2,515 yards -- an average of 11.2 yards per catch -- and 18 touchdowns.
In addition, the Raiders reached a one-year deal to re-sign running back Rod Smith, who appeared in three games on special teams last season.
Smith, 28, also saw action on special teams in three games for the Tennessee Titans in 2019 after starting the season with the New York Giants, with whom he signed but never played. He also has played for the Seattle Seahawks and Dallas Cowboys during his five NFL seasons, rushing for 364 yards and five touchdowns on 101 carries.
ESPN's Tim McManus contributed to this report.