According to NFL Network's Ian Rapoport, the deal is for two years, and New England placed offensive lineman Marcus Cannon on injured reserve to make room on the roster.
During the offseason, Cleveland signed Britt to a four-year, $32.5 million contract, per Spotrac.
After posting a career year in 2016, Britt has struggled to capitalize on it this season. In nine games with the Browns, Britt registered 18 receptions for 233 yards and two touchdowns.
That paled in comparison to the 68 catches for 1,002 yards and five touchdowns he put up last season with the Los Angeles Rams.
The 29-year-old Britt is a nine-year pro who began his career with the Tennessee Titans prior to stops with the Rams and Browns.
Britt will join a Patriots receiving corps led by Brandin Cooks, Chris Hogan, Danny Amendola and Phillip Dorsett.
He could provide quarterback Tom Brady with an outside threat for the stretch run much like Michael Floyd did last season following his departure from the Arizona Cardinals.