The five-year contract is worth $25 million, a source familiar with the move confirmed to The Associated Press on Tuesday.
"I heard rumors of that for the last couple of years," Cammalleri said in a conference call Tuesday afternoon. "New Jersey is a place that I've been keen on for a while. I had the chance to meet with Mr. (Lou) Lamoriello (Devils general manager) over the weekend and they provided me with a great opportunity to be a New Jersey Devil.
"I have a lot of respect for the organization and I believe in the method and the way they operate. This is something I watched for a while and wanted to be a part of it. There were a lot of factors that played into the decision."
The Devils also signed forward Martin Havlat to a one-year deal, worth $1.5 million, a source confirmed to ESPN The Magazine's Craig Custance.
Cammalleri is an 11-year NHL veteran, who has spent the past two-plus seasons with the Calgary Flames. He is a six-time 20-goal scorer, who had 26 goals and 19 assists in 63 games last season.
Overall, he has 236 goals and 266 assists in 669 games split between Calgary, Montreal and Los Angeles.
Cammalleri said he felt no pressure coming in to be a top scorer.
"I just have to come in and be the best teammate I can be," Cammalleri said. "We all like to score goals, but I'm going to do what I can to help the team. I think there's a good fit here, between the club and myself, the skill set that I can bring."
Havlat was bought out by the Sharks following the season after scoring 27 goals in 127 career games with San Jose after being acquired for Dany Heatley.
He brings experience to the Devils, having played in 748 career games during his NHL career spanning time with the Senators, Blackhawks, Wild and Sharks. In 48 games with the Sharks last season, he scored 12 goals to go with 10 assists.
The Associated Press contributed to this report.