Terms of the deal weren't revealed, but various reports pegged it at $13 million.
Suzuki, who has 2,606 career hits and lifetime .322 batting average over 12 major-league seasons, came to Yankees from the Seattle Mariners in a July 23 trade.
He compiled a .322 average with five homers and 27 RBI in 67 games for New York.
For the entire 2012 season, Suzuki posted a .283 mark with 28 doubles, six triples, nine home runs, 55 RBI and 29 stolen bases over 162 contests.
"The Yankees are the kind of team that I always envisioned being a part of," the Japanese star said. "Everyone in the world of competition has a strong desire to win, but the Yankees also have an atmosphere where losing is not an option."
2014: The Year in Music [PHOTOS]