Barber, who turns 36 in April, hasn't played since the 2006 season with the Giants, where he spent his entire 10-year career. Most recently he had been a correspondent for "The Today Show" and "Sunday Night Football" on NBC before the network did not renew his contract. He has been doing video work for Yahoo!
Barber, who had two years left on his Giants contract when he retired, will not be making his comeback with New York.
"We wish Tiki nothing but the best, and when we are able to make the transaction, we will release him from our reserve/retired list," team spokesman Pat Hanlon said in a statement.
While owners and players are engaged in talks for a new collective bargaining agreement, teams are not allowed to make roster moves.
Lepselter, though, told FOXSports.com that "there are interested parties."
Barber's twin brother Ronde plays defensive back for the Buccaneers. Ronde Barber signed a one-year deal last month to return for a 15th season with Tampa Bay.
"After seeing my brother still have fun at our age, it reignited the fire," Tiki Barber said, according to FOXSports.com. "I'm really looking forward to the challenge of seeing if I can get back to the level of where I was. I started working out again recently. It kind of shocked myself. I still had a lot of the strength I had before. I'm really looking forward to making a return."
Barber went out on top, rushing for 1,662 yards and five touchdowns in 2006. He ran for 10,449 yards with a 4.7 yards per carry average in his career.
He rushed for a career-best 1,860 yards in 2005 when he made one of his three Pro Bowls.
After he retired, he said Tom Coughlin's coaching style was part of the reason he stopped playing. The Giants won the Super Bowl the year after Barber retired.
Barber's intention to come out of retirement was first revealed on the Twitter account of Maxx Talent, the firm that represents Barber.
Information from ESPN NFL Insider Adam Schefter was used in this report.