Rice had the worst season of his career in the 2013 campaign as he struggled to run the ball effectively for the Ravens and was also troubled by knee and thigh injuries.
"He's definitely in good shape," Flacco told the Baltimore Sun. "I don't know if he's any quicker or anything like that; you'll have to ask him. I can say he definitely looks good and he's running the ball well.
"Our guys are creating some room out there even with no pads on. We're creating some room out there and some holes, and sometimes that's tough to do in these kinds of practices.
"But I think we've looked really good and [Rice] has done a great job of pressing, cutting, getting in there and having the explosion afterward. He's shown a lot."
Rice ran for 660 yards and four touchdowns in the 2013 season at an average of just 3.1 yards an attempt.