The third-year cornerback will be eligible to return to the Giants' active roster on Friday, Sept. 26 following the team's Sept. 25 game against the Washington Redskins.
Hosley is eligible to participate in all offseason and preseason practices and games.
The news comes just two days after the Giants waived safety Will Hill following his third league-imposed suspension.
The Giants drafted Hosley in the third round in 2012 hoping he would become their slot cornerback. The 23-year-old has played 23 games, starting seven.