Carey signed a one-year, two-way contract with the Senators on Sunday. He will make $700,000 at the NHL level with that figure decreasing to $350,000 in the AHL.
Carey skated for 60 games in 2017-18, notching seven goals and seven assists while averaging 10:16 of ice time.
Carey finished with a minus-1 rating over 9:17 of ice time in Thursday's 4-3 loss to the Flyers.
Carey scored his fifth goal of the season in Monday's 3-2 overtime win against the Sabres.
Carey registered two goals and three shots through 13:32 of ice time during Tuesday's 4-1 win over Anaheim.
Carey logged one hit and blocked one shot in Saturday's 3-2 overtime victory over Boston.
Carey is struggling for regular minutes (9:06 per game) when he does manage to crack the lineup.
Carey signed a one-year, $650,000 contract with the Rangers.
Carey was placed on waivers Thursday, Renaud Lavoie of TVA Sports reports.
Carey will make an appearance in Game 2 of the Eastern Conference semifinals Saturday, CSN's JJ Regan reports.