Chapman and the Yankees agreed to a five-year, $86 million deal, a person with direct knowledge told USA TODAY Sports.
The person requested anonymity because the deal has not been announced.
"I love the (Yankees) organization," Chapman told ESPN's Marly Rivera. "They welcomed me with open arms and that's why I decided to go back, I was hoping I had a chance to go back and it happened.
"Every player dreams of being a Yankee, and if they don't it's because they never got the chance."
Chapman, the premier closer on the market, agreed to the richest contract by a relief pitcher. Mark Melancon signed a four-year, $62 million deal with the San Francisco Giants just days before.
The Washington Nationals were also in intense talks for Chapman, but lost the bidding war with the Yankees as the clock neared midnight on Day 3 of baseball's winter meetings.
Chapman spent half the season with the Yankees in 2016 before he was traded to the Chicago Cubs in July. He combined to save 36 games between the two clubs --- before playing a crucial role in the Cubs' postseason run to their first World Series title since 1908.
It's rare that a player returns to the team that traded them near the deadline the following season. In essence, the Yankees got their star closer back and three prospects from the Cubs -- minor league top shortstop prospect Gleyber Torres, outfielders Rashad Crawford and Billy McKinney and major league pitcher Adam Warren.
Over Chapman's career, the 105-mph flame thrower struck out 42.6% batters he faced. He has 182 career saves over seven seasons with an 89.7% save percentage.
With Chapman's deal agreed upon, it leaves Kenley Jansen as top closer remaining on the market.
The person requested anonymity because the deal has not been announced.
"I love the (Yankees) organization," Chapman told ESPN's Marly Rivera. "They welcomed me with open arms and that's why I decided to go back, I was hoping I had a chance to go back and it happened.
"Every player dreams of being a Yankee, and if they don't it's because they never got the chance."
Chapman, the premier closer on the market, agreed to the richest contract by a relief pitcher. Mark Melancon signed a four-year, $62 million deal with the San Francisco Giants just days before.
The Washington Nationals were also in intense talks for Chapman, but lost the bidding war with the Yankees as the clock neared midnight on Day 3 of baseball's winter meetings.
Chapman spent half the season with the Yankees in 2016 before he was traded to the Chicago Cubs in July. He combined to save 36 games between the two clubs --- before playing a crucial role in the Cubs' postseason run to their first World Series title since 1908.
It's rare that a player returns to the team that traded them near the deadline the following season. In essence, the Yankees got their star closer back and three prospects from the Cubs -- minor league top shortstop prospect Gleyber Torres, outfielders Rashad Crawford and Billy McKinney and major league pitcher Adam Warren.
Over Chapman's career, the 105-mph flame thrower struck out 42.6% batters he faced. He has 182 career saves over seven seasons with an 89.7% save percentage.
With Chapman's deal agreed upon, it leaves Kenley Jansen as top closer remaining on the market.
