The 42-year-old veteran forward agreed to a one-year deal worth $1 million base salary plus performance bonuses. Bruins general manager Peter Chiarelli said the announcement would be made official on Monday.
"Rex was a terrific player for us and helped our group leadership-wise and he's a Hall of Famer to be and he's going to help some of the young kids," Chiarelli said. "We're excited to have him back."
The 21-year veteran played his first full season with the Bruins and posted 18 goals and 25 assists for 43 points in 80 games in 2009-2010. He was acquired from the Tampa Bay Lightning during the 2008-2009 season.
"He had a terrific year, especially at his age," Chiarelli told ESPN.com. "But take his age out of the equation, he had a great year anyways. He's just a great example for the young kids. He goes to the dirty areas. It's just a wonder that he's doing what he's doing and we hope he can do it again."
Chiarelli admitted Friday morning he had questions in regards to Recchi's ability to produce prior to last season given his age, but the veteran proved he could still play and contribute at the NHL level.
"He will be an asset to our team," Chiarelli said.
Joe McDonald covers the Bruins for ESPNBoston.com. Follow him on Twitter.