No terms were disclosed.
The eight-time NHL all-star was released by the Rangers Thursday because General Manager Glen Sather said the club could no longer wait for Jagr to decide where he wanted to play.
He was an unrestricted free agent.
"I've waited for a call in the last few days, so we decided we were gonna move on," Sather told New York Newsday. "You just can't wait forever on these kinds of things. It was a very cordial parting."
The 1999 Hart Trophy winner as the league's MVP, Jagr compiled 1,609 points (646 goals and 963 assists) in 1,273 NHL games while playing for Pittsburgh, Washington and the Rangers, including 25 goals and 46 assists last season.
Jagr also played for Avangard during the NHL's 2004-05 lockout season and was a member of Stanley Cup winners in 1991 and 1992 with the Penguins.