Hairston will fit into the Cubs' mix as a platoon corner outfielder.
The other teams that had been talking to Hairston's agent were the New York Mets, New York Yankees and Atlanta Braves.
The 32-year-old Hairston's deal includes incentive clauses that could increase the value to $6 million, pending a physical.
Hairston who played for the Mets in 2012, put up his best power numbers. The outfielder had 48 extra-base hits, including a career-high 20 home runs, in just 377 at-bats.
Hairston made $1.1 million last season before becoming a free agent for the first time in his career. He most likely will platoon with left-handed hitters Nate Schierholtz in right field and David DeJesus in center.
