Finley confirmed a report of the deal on his Twitter account Wednesday night, saying:
"It's TRUE! Thank you so much to the Packers organization, all of my fans, and my beautiful wife. Happy Bday. Let's GO Packers!! Back soon... "
"I could not be happier to have the privilege of being a Packer for the next 2 yrs. Glad to be back with my team & coaches for 1 common goal."
Finley will make $5.75 million in 2012 and $8.25 million in 2013, according to the Milwaukee Journal Sentinel.
The paper also reported that the Packers would have paid Finley $5 million per year if they had franchised him as a tight end. If they put the tag on Finley as a wide receiver, he would have made $9 million.
The Texas product caught 55 passes for 767 yards and eight touchdowns in 16 games last season.