"#Eagles agree to terms with QB @Mark_Sanchez on a 1-year deal," the team tweeted on its official Twitter account Friday morning.
Sanchez will sign a $2.25 million deal that includes a $750,000 signing bonus, a league source tells ESPN NFL Insider Adam Schefter.
Sanchez, 27, will play backup to Eagles quarterback Nick Foles.
Sanchez was bounced out of New York after the Jets signed former Eagles starter Michael Vick last Friday.
He spent last season on injured reserve after tearing the labrum in his right shoulder in a preseason game.
Sanchez led the Jets to the AFC championship game his first two seasons in the NFL before struggling the next two. He had an NFL-leading 52 turnovers in 2012-13.
Matt Barkley and G.J. Kinne round out the other quarterbacks on the Eagles.
ESPN and the Associated Press contributed to this report.