His announcement comes after weeks of speculation about where he would be playing next after leaving the Los Angeles Lakers.
LeBron James tells Lakers he plans to play elsewhere during next NBA season
"I was honest at that last press conference when I said I needed to look at myself and deicide if I still love this game. I still truly love this game, and I have more to give."
James is signing a two-year, $8-million deal with a player option, Klutch Sports Group CEO Rich Paul told ESPN's Shams Charania.
By choosing the 76ers, James commits to a fourth NBA team as he searches for a fifth NBA championship before retirement.
James will hope to break a 43-year championship drought for the 76ers, much the same way he erased a 52-year streak without a title for the city of Cleveland when he won a championship with the Cavaliers in 2016.
This could be the final free agency decision James will ever make as the 41-year-old enters a record-breaking 24th season.
"This is my last decision. I'm not going for money. I'm not going for family. What am I really playing for at this point?" James wrote on X. "I still want to sacrifice. I still want to work. I still want to grind. I still want to compete, to win and to have a chance at the feeling of winning another championship."
Correction: An earlier version of this article stated that LeBron James signed a $8-bllion deal with the 76ers. The story has been updated to reflect the accurate numerical figure.
ESPN contributed to this report.