Folk, 33, had surgery on his left knee last season after being placed on injured reserve with a minor injury designation on Oct. 9. He was cleared to resume kicking last week by Dr. James Andrews, a source told ESPN's Adam Schefter on Wednesday.
Folk signed with the Bucs last offseason to compete with struggling kicker Roberto Aguayo, a second-round draft pick. Folk beat out Aguayo for the job in training camp but began to have struggles of his own.
Folk missed five field goals and two extra points in four games in 2017, including three in a 19-14 loss to the New England Patriots. He was placed on injured reserve the following week.