ESPN.com reported that the Ravens and safety Earl Thomas have agreed to a four-year, $55 million deal with $32 million guaranteed.
Ingram, also 29, is a two-time All-Pro who put together back-to-back 1,000-yard seasons in New Orleans in 2016 and 2017.
Both Ingram and the Saints expressed a desire to work out a deal after the 2018 season that would allow the 2011 first-round pick to continue his career where it began.
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Ingram is joining the most run-heavy team in the NFL.
The 29-year-old Thomas formed a formidable secondary alongside Richard Sherman, Byron Maxwell, Brandon Browner and Kam Chancellor that took the Seahawks to two Super Bowls and victory in Super Bowl XLVIII. That shakes to about $3.6 million per year, less than the $4 million per year Mark Ingram received in his last contract extension with the Saints.
Murray joins after spending each of the past two seasons with the Vikings. However, Thomas played every game the first six seasons of his career and he has been one of the league's most impactful safeties - smart and tough, effective as a pass defender, run defender and playmaker with 28 career interceptions.