General Manager Glen Sather said Redden agreed to a six-year, $39 million deal.
Defenseman Mikael Rozsival re-signed with the Rangers and received a four-year, $20 million contract.
"Coming to New York is always an exciting thing," Redden in a conference call. "I've always been excited about the opportunity to play with an Original Six team. This is certainly a great opportunity for me, and I'm really excited about it. After playing against (Rangers Scott Gomez and Chris Drury) for a number of years, I'm looking forward to being on the same team with them, they're two great players."
The Rangers hope Redden will help boost the Rangers' low-scoring power play next season.
"(Redden's) the best first passer in the game today," Sather said. "He was someone we targeted immediately, our number one guy on defense."
Celebrity Breakups and divorces of 2014 [PHOTOS]