The talks could lead to a short-term contract, likely a one-year deal without a major financial commitment. However, nothing has been finalized yet, per sources.
McClain, 23, is a former eighth overall pick from Alabama who was recently cut by the Raiders.
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He was an All-American for the Crimson Tide, but off-field problems and inconsistent play have plaged him in the NFL.
McClain has 246 tackles, 6 1/2 sacks and one interception in three NFL seasons.
He started nine games last season for Oakland and had 62 tackles, one sack and one forced fumble.
He cleared waivers Monday after being released last Friday.
McClain was due a $4.05 million salary in 2013 and $5.805 million in 2014, but none of that money is due now that his contract terminated and no one picked it up.
The Ravens have a need at inside linebacker due to Ray Lewis' retirement, Dannell Ellerbe signing a $35 million contract to join the Miami Dolphins and Jameel McClain still not fully cleared to play following a spinal cord contusion.
McClain attended the same school as Ravens general manager Ozzie Newsome, who has previously drafted fellow Crimson Tide players such as outside linebacker Courtney Upshaw, nose guard Terrence Cody and former outside linebacker Jarret Johnson.
The Ravens also signed former Raiders first-round safety Michael Huff earlier this year to a three-year, $6 million contract.
McClain was suspended for two games last season for conduct detrimental to the team when he clashed with coach Dennis Allen when he was demoted from the starting lineup. He has struggled in pass coverage.
A misdemeanor assault case against McClain in his hometown of Decatur, Ala. was dismissed last year when the alleged victim declined to go forward with the case.
McClain had been facing third-degree assault, reckless endangerment, illegal discharge of a firearm and menacing charges. McClain allegedly threatened to kill the man and fired a gun next to his head during a fight two years ago.
McClain was initially convicted of four misdemeanors, but appealed the verdict and the case is now resolved.