The Saints on Monday announced the signing of Wallace to a one-year deal. Terms were not disclosed. Wallace, who turns 33 in August, appeared headed to Oakland last week but the deal never materialized.
In seven seasons with Seattle and Cleveland, Wallace completed 59.2 percent of his throws with 31 touchdowns and 18 interceptions. His best season came in 2008 when he threw for 1,532 yards in 10 games, throwing 11 touchdowns against three picks for the Seahawks.
The Browns cut Wallace in training camp last year, after he went 1-6 as their starter over two seasons.