Raburn's contract was selected Tuesday from Triple-A Albuquerque, and he will have a $1.5 million salary in the big leagues this season.
Raburn is hitting .206 this spring training with no homers and five RBI. He figures to primarily be a backup in the outfield, but has played in the infield over his career.
The 34-year-old Raburn is coming off a season in which he hit .301 for Cleveland.
He can make $1.2 million in performance bonuses based on plate appearances: $200,000 each for 100, 200 and 300, and $300,000 apiece for 400 and 500.
Colorado also optioned catcher Dustin Garneau to Albuquerque on Tuesday.