The 31-year-old defenseman had 26 points (nine goals, 17 assists) in 74 regular-season games for the Florida Panthers and Montreal Canadiens last season, including eight points (two goals, six assists) in 20 games after he was acquired in a trade with the Canadiens on March 16.
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Chiarot had one assist in 10 Stanley Cup Playoff games.
Selected by the Atlanta Thrashers in the fourth round (No. 119) of the 2009 NHL Draft, Chiarot has 118 points (31 goals, 87 assists) in 489 regular-season games for the Panthers, Canadiens and Winnipeg Jets and eight points (one goal, seven assists) in 66 playoff games.
The Red Wings were one of the busier teams in the NHL on Wednesday, the first day of free agency, signing forward David Perron to a two-year, $9.5 million contract ($4.75 million average annual value); forward Andrew Copp to a five-year, $28.125 million contract ($5.625 million AAV); and forward Dominik Kubalik to a two-year, $5 million contract ($2.5 million AAV).
They signed defenseman Olli Maatta to a one-year, $2.25 million contract on Thursday, and defenseman Mark Pysyk to a one-year, $850,000 contract.
"With several expiring contracts we had roster spots open, available, needs to be addressed and we felt we addressed positionally some needs," general manager Steve Yzerman said Thursday. "We needed simply to add players to fill out a roster, but addressed some needs, an important need at center with Andrew Copp, a right-hand shot forward in David Perron and kind of a pleasant surprise in what we consider a scoring winger in Dominik Kubalik, adding some defensemen we think we will help us on our special teams, in particular our penalty killing, and defensively 5-on-5 as well. These are all areas we talked about in the spring, areas we needed to improve upon. With some of our contracts expiring and holes in our roster, we were in a position to bring in new faces and players we think address some of these needs."
NHL.com staff writer Tracey Myers contributed to this report.