The Nets didn't disclose terms, but a source close to the situation told ESPN.com's Marc Stein that Humphries agreed to a two-year, $24 million contract.
"Kris has been a very consistent player for us over the past two years," Nets general manager Billy King said in a statement. "He has developed into one of the top rebounding forwards in the league, and we are very pleased to welcome him back."
Playing on a one-year, $8 million contract last season, the 27-year-old averaged career highs of 13.8 points and 11.0 rebounds per game.
The eight-year veteran, drafted with the 14th overall pick by the Utah Jazz in the 2004 draft, has career averages of 6.7 points and 5.5 rebounds. Humphries, who also has played with the Toronto Raptors and Dallas Mavericks, originally joined the Nets as a result of a midseason trade in the 2009-10 season.
The 6-foot-9 Humphries had been rumored to be part of the complicated trade talks that failed to bring Dwight Howard to Brooklyn. His return should complete the revamped Nets' starting five for the 2012-13 season, joining point guard Deron Williams, shooting guard Joe Johnson, small forward Gerald Wallace and center Brook Lopez.
Humphries is also known for his 72-day marriage to Kim Kardashian that was chronicled on reality TV.
Shortly after the news broke that had agreed to re-sign with the Nets, he posted the following tweet: "I'm up at Brooklyn! @S_C_ "lucky I didn't have Jay drop me from the team" lol!"
Kardashian is now reportedly dating rapper Kanye West, who took a shot at Humphries in his track "Cold" back in April.
"Lucky I ain't had Jay drop him from the team," West raps. "Jay" is hip-hop mogul and Nets co-owner Jay-Z, who goes by the Twitter handle "@S_C_".
West and Jay-Z worked together on the "Watch the Throne" album.
ESPN.com's Marc Stein and ESPNNewYork.com's Mike Mazzeo contributed to this report.