The two-time All-Star's deal doesn't include any options or incentives, according to Mark Feinsand of MLB.com.
Atlanta is planning to use Ozuna as its everyday left fielder, David O'Brien of The Athletic reports.
"We liked our outfield but we really feel strongly about Ozuna's bat," Braves general manager Alex Anthopoulos said, according to 680 The Fan. "We thought it'd be a really good fit for us."
The 29-year-old slashed .241/.328/.472 with 29 home runs and 89 RBIs for the St. Louis Cardinals last season. He also went 9-for-21 with three doubles, two homers, and five RBIs in the 2019 NLDS, helping the Cardinals defeat the Braves in five games.
Ozuna rejected St. Louis' one-year, $17.8-million qualifying offer at the beginning of the offseason. The Cards will receive a compensation pick in the draft after Competitive Balance Round B (No. 71) and the Braves forfeit their third-highest selection (No. 99) and $500,000 of international slot money, according to MLB Pipeline.
With the addition of Ozuna, Atlanta's payroll is between $145 million and $150 million, which would be the largest payroll the club has had in team history, according to O'Brien.
The Cincinnati Reds, Texas Rangers, Chicago White Sox, Arizona Diamondbacks, and Cards were all reportedly interested in signing him.