"Brian Rolston has developed into one of the top two-way players in the game and certainly will add to our center-ice position and also to our power play," Devils general manager Lou Lamoriello said. "Bobby is still one of the top size-strength forwards and will add size and strength to our center ice."
Rolston, 35, was chosen with the 11th pick of the 1991 draft by the Devils and played parts of six seasons in New Jersey -- winning the Stanley Cup title in 1995. He was dealt to Colorado in 1999 and had stints with Boston and Minnesota before coming back.
Rolston fielded offers from 17 teams Tuesday after having his negotiating rights traded by the Minnesota Wild to the Tampa Bay Lightning last weekend.
"The Devils were high on my list and I'm glad I got here and things worked out the way we wanted it," Rolston said. "I'm very fortunate where I am in my career to have a choice like I had today, especially to play with an organization I know is second to none in the National Hockey League."
Holik, 37, was a two-time Cup winner with the Devils before making the controversial move to sign a lucrative free-agent deal with the rival New York Rangers in 2002.
An in-your-face player known to torment goalies and opponents all over the ice, Lamoriello was happy to get Holik back on his side in the competitive Eastern Conference.
"We're not looking at what they did in the past for us even though that played a role," Lamoriello said. "They know how we are, they know who we are and they know what to expect.
"We are going to be happy to see him in other people's faces."
Holik had his contract bought out by the Rangers in 2005 and then moved to Atlanta for three seasons. He hasn't won a playoff game since leaving the Devils.
"A lot has happened since and I am at a different point in my career," Holik said. "What I want to do now is to be in a place that has a legitimate chance of contending."
While they welcomed several players back, the Devils declined their option on veteran forward Sergei Brylin, who won three Stanley Cup titles and spent his first 13 NHL seasons with the club.