Kimbrel converted 42 saves last season for the World Series-winning Boston Red Sox, making his seventh All-Star team in his big league career. He struck out 96 batters in 62 innings of work, and gave up just 19 earned runs in his 63 appearances.
The Cubs have been very careful with their free agent spending in recent months, but reportedly pushed hard to acquire Kimbrel. He will wear jersey number 24.
News of the signing first broke Wednesday night, with The Athletic's Ken Rosenthal reporting that the deal is a three-year contract worth a total of $45 million.
Check back for updates on this developing story.