Fukudome, 35, opened the season with the Chicago White Sox, batting .171 with four RBIs in 24 games before being released on June 22.
"He'll go down to Triple-A, and if we feel that he can help us, I'm sure that's why we signed him," Yankees manager Joe Girardi said. "If there's a need, we'll use him. Right now, he probably needs to go play, but it gives us more depth."
A native of Osaki, Japan, Fukudome owns a combined career .258 batting average with 42 home runs and 195 RBIs in 596 games over parts of five seasons with the Chicago Cubs (2008-11), Cleveland Indians (2011) and White Sox (2012) organizations.