Norwell, 26, will become the NFL's highest-paid guard, averaging $13.3 million in annual salary.
The Giants are a logical landing spot because former Panthers general manager Dave Gettleman took the same role this offseason and need to shore up the offensive line.
Norwell started all 16 games at left guard for Carolina previous year for the second straight season but the Panthers elected not to place the franchise tag on the former 2014 undrafted free agent out of Ohio State.
The Panthers placed a second-round tender on the 6-foot-6, 325-pound Norwell before last season, guaranteeing him $2.75 million. He spent the first four years of his career in Carolina. For his National Football League career as a whole, Robinson has recorded 202 receptions for 2,848 yards and 22 touchdowns while already appearing in 43 regular-season games atop the highest level.
While such an injury occurred as a result of his only catch of the season, the 24-year-old tallied just the lone reception, which went for 17 yards.