Andruw Jones has agreed to join the Yankees for a base salary of $2 million, SI.com's Jon Heyman is reporting.
Jones, who turns 34 in April, would be used as a fourth outfielder and possible designated hitter to spell Jorge Posada.
Yankee fans will best remember Jones from the 1996 World Series when the then-19 year old hit two home runs for the Braves.
Jones had Gold Glove quality defense for many years, but his best season at the plate came in 2005 when he hit 51 homers and drove in 128 runs.
Atlanta let Jones go after his deal with them expired following the 2007 season despite Jones hitting 26 homers and driving in 94 runs.
Jones has spent time with the Dodgers, Rangers and White Sox. The Dodgers had signed him to a two-year, $36.2 million deal, but he reported overweight. He was eventually benched by manager Joe Torre, became injured and was ultimately bought out after only one season.
In 15 seasons, he has 407 career homers but only a .256 batting average.
If he signs, Jones would essentially take the place of Marcus Thames, who hit 12 homers and drove in 33 runs last season and was considered a bargain for $900,000. However, Thames, who recently signed with the Dodgers, was a defensive liability.