CHARLOTTE, N.C. -- The Panthers have activated running back Jonathan Stewart from the physically unable to perform list.
Stewart is eligible to play in Sunday's game against the Atlanta Falcons.
The team waived running back Armond Smith on Saturday to make room for Stewart on the 53-man roster.
Stewart, a former first-round draft pick, has missed the first seven games recovering from an ankle injury. He's expected to split carries with running back DeAngelo Williams and fullback Mike Tolbert.
Stewart hasn't played since last November when he first injured his ankle.
Stewart is Carolina's second-leading rusher behind Williams with 3,836 yards on 818 carries. He has rushed for 27 touchdowns. He caught 47 passes for 413 yards in 2011.