Terms were not disclosed.
Bushrod, 32, started all 16 games at right guard for the Dolphins last season and quickly developed into one of the leaders in the locker room. A career offensive tackle, he played out of position for the first time in his career.
Bushrod said at the end of the season that he preferred to stay in Miami because his family likes it in South Florida and he didn't want to live in his third city in three seasons.
The 10-year-veteran, who also has played for the Saints and the Bears, has been selected to two Pro Bowls in his career.
ESPN's James Walker contributed to this report.