The Ravens traded Monroe from the Jacksonville Jaguars earlier today, although the former first-round Draft pick is yet to undergo a physical and may join the team too late for Sunday's match against the Miami Dolphins.
Harbaugh acknowledged that he would need to find a way to integrate Monroe into his side, but insists that the 26-year-old would make the reigning Super Bowl champions even better.
"Obviously we're bringing Eugene in to play. How soon that can happen remains to be seen," Harbaugh told reporters.
"The main thing is it makes us better almost immediately in terms of adding a football player of that quality to our team. And we'll just figure it out and fit it together the way we can and use these guys the best way we can."
The move is the Ravens' first trade during the regular season in its 18-year history.