Gibbs is back on the president's payroll as a strategic consultant and roving surrogate, the newspaper said.
Though he left the White House a year ago, Gibbs has been on conference calls with President Obama, campaign manager Jim Messina, senior campaign strategist David Axelrod and senior White House adviser David Plouffe, the sources told Politico.
His new contract formalizes Gibbs' relationship with the Chicago-based campaign, though it is not clear how much he will be paid, Politico reported.
The newspaper said Gibbs, an Alabama native, is known for his blunt style and one of the reasons he was hired is his willingness to deliver tough messages to the president.
A book by Jodi Kantor, a New York Times reporter, says Gibbs sometimes has a troubled relationship with first lady Michelle Obama.