"We have agreed to terms with Kerry Collins," Colts owner Jim Irsay wrote on his Twitter account.
Collins had announced his retirement after playing the past few seasons with the Tennessee Titans.
However, he obviously had a change of heart with the opportunity to remain in the AFC South and play for a perennial Super Bowl contender in Indianapolis.
Collins is a 16-year NFL veteran who has completed 3,439-of-6,163 passes for 40,441 yards, 206 touchdowns, 195 interceptions and a 73.9 quarterback rating. Collins’ attempts and completions both rank ninth in NFL annals while his passing yardage ranks 11th in the league.
“It is a good opportunity to have Kerry become part of the team,” Colts coach Jim Caldwell said. “He is a veteran quarterback who has started many games and he brings dimension and depth to the quarterback position, which will be helpful. He is familiar with our division and will make a great addition to our roster.”
Collins was originally selected by Carolina in the first round (fifth overall) of the 1995 NFL Draft, the first player ever chosen by the Panthers. In his second season with the team, he led Carolina to the NFC Championship Game, throwing for 2,454 yards and 14 touchdowns that season. In 2000, Collins guided the New York Giants to Super Bowl XXXV, losing to the Baltimore Ravens. He has also started 28 games in two years with the Raiders and 32 games in five seasons with the Titans.
Collins was selected to the Pro Bowl on two occasions (1996 and 2008) and still holds the Giants’ single-season record for passing yards with 4,073 in 2002.
At Penn State University, Collins completed 370-of-657 passes for 5,304 yards and 39 touchdowns in four seasons. During his senior campaign (1994), he led the Nittany Lions to an undefeated season, which was capped by a Rose Bowl victory over the Oregon Ducks. That year, Collins received the Maxwell Award, Davey O’Brien Award and Sammy Baugh Award while being named the College Quarterback of the Year. He also finished fourth in the Heisman Trophy balloting that year.
Collins went to the Super Bowl with the Giants after a rocky start to his NFL career with the Panthers where he battled alcohol issues.
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