Bridgewater announced his decision on Twitter on Thursday. ESPN's Adam Schefter cited colleague Dianna Russini while reporting the news.
According to Schefter, Bridgewater agreed to a fully guaranteed, one-year contract worth $7.25 million:
Bridgewater has been trying to work his way back into a more prominent role after a horrific knee injury with the Minnesota Vikings during training camp in August 2016 knocked his career off course.
"It's mangled," Dr. Dan Cooper told ESPN.com's Ian O'Connor of Bridgewater's injury. "You make the skin incision, and there's nothing there. It's almost like a war wound. Everything is blown."
After appearing in the 2017 regular-season finale with the Vikings, Bridgewater signed a one-year deal with the New York Jets last year. He showed promise during the preseason, throwing for 316 yards and two touchdowns in four games.
Bridgewater's performance caught the eye of the New Orleans Saints, who acquired him late in the preseason for a third-round draft pick. The 26-year-old appeared in five games last season, including his first start since 2015 in Week 17.
Bridgewater returning to the Saints ends a whirlwind period for the veteran quarterback.
Per NFL Network's Jane Slater, Bridgewater seemed to be on the verge of returning to the Saints despite having a bigger contract offer from Miami:
Even though the Saints can't offer Bridgewater a starting job in 2019 due to the presence of Drew Brees, there are plenty of reasons to explain his decision.
Brees is 40 years old and likely won't have many more years on the field. When Bridgewater's opportunity to start arrives, he should have an easy transition thanks to the presence of stars like Alvin Kamara and Michael Thomas.