The 6-foot, 222-pound Ivory joined the Saints as an undrafted free agent out of Tiffin (Ohio) in 2010 and has run the ball 256 times for 1,307 yards and eight touchdowns, averaging 5.1 yards per carry.
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During his rookie season, when injuries to Reggie Bush and Pierre Thomas led to an increase in his playing time, Ivory carried the ball 137 times for a team-leading 716 yards, and average of 5.2 yards per carry with five TDs.
Last season, he played in only six games with two starts, carrying 40 times for 217 yards and two touchdowns, including a 56-yard scoring run.
Ivory's one-year tender is worth about $2 million.