A league source confirmed that Taylor had agreed to terms with the Bears Friday. The deal is a four-year contract for $12.5 million with $7 million guaranteed.
Taylor is entering his ninth season and turns 31 this September, which makes his deal a nice one for a back his age.
Taylor backed up Adrian Peterson in Minnesota last season, rushing for 338 yards and catching 44 passes. He is regarded as one of the better third-down backs in the league.
With new Bears coordinator Mike Martz a big proponent of throwing the football, Taylor will be a valuable addition, joining Forte as two good pass-catching backs.