Packers General Manager Ted Thompson issued a statement on the team Web site saying Favre, whose retirement has been rumored for several seasons, would return and "the Packers are excited by his decision and look forward to a successful 2007 campaign."
Favre, who turns 38 next season, rebounded from an off year in 2005 to complete 56 percent of his passes for 3,885 yards and 18 touchdowns last season. He started all 16 games for the 14th consecutive season, running his NFL record consecutive start streak to 237 regular-season games.
He is a three-time league most valuable player and passed Dan Marino's NFL record for career completions last season. He's on the verge of several other career marks, including victories, one short of John Elway's 148, touchdown passes -- six short of Marino's record -- and 3,862 yards behind Marino's record in that category.