On Monday, Rob Demovsky of ESPN.com reported the deal is for two years and $4 million, with a $1.2 million signing bonus.
Kendricks' arrival comes after NFL Network's Ian Rapoport reported the Packers signed tight end Martellus Bennett to a three-year, $21 million deal.
Kendricks comes to the Packers following six seasons in the Los Angeles Rams organization. Since debuting in 2011, Kendricks has racked up 204 receptions for 2,132 yards and 17 touchdowns.
Last season, he set a career high with 50 catches for 499 yards and two scores despite working with Case Keenum and the unproven Jared Goff under center.
Now a member of the Packers, the 6'3", 250-pound tight end figures to provide quarterback Aaron Rodgers another big target to work with up the seams and in the red zone.
That's especially good news for Green Bay considering the reigning NFC North champions received 60 receptions total from tight ends Jared Cook and Richard Rogers last season.
With Bennett and Kendricks capable of lining up all over the formation and mixing in alongside wide receivers Jordy Nelson, Davante Adams and Randall Cobb, the Packers should be even harder to defend in 2017.