Goal scoring midfielder Yallop looms as the missing piece for Bev Priestman's Phoenix, who lost the decider to Melbourne City in May.
Yallop's wife, Kirsty Yallop, is a former New Zealand international and the move allows the couple and their two young daughters to be closer to family there.
The 35-year-old, who missed this year's Asian Cup through injury, can also press her case to play for the Matildas at next year's Women's World Cup with the ambitious Phoenix.
"I'm chasing that trophy and so is Wellington, so we're aligned," Yallop said.
"Getting the opportunity to work under Bev was a massive drawcard, not to mention the facilities at NZCIS. They're second to none.
"It's a high performance environment in Wellington and that's something that I love being a part of.
"And the Phoenix have shown they're dedicated to their women's program. That was a major pull for me too.
"... They have a quality group of players and are bringing in more quality for next season. I can't wait to join them."
With Melbourne City losing players like Holly McNamara, Leah Davidson and Taylor Otto and needing to rebuild, Wellington will feel they have the chance to pounce.
"For a decorated Australian international like Tameka to make the move to the Wellington Phoenix speaks volumes about where this club is now at," Priestman said.
"She'll really add to the team.
"Tameka can play multiple positions, she's dynamic, has a lot of energy, is technically very gifted and she scores goals, which was one of the key reasons for signing her."
Brisbane are retiring the former Julie Dolan Medallist's No.13 jersey - the first time they have done so for a men's or women's player.
Yallop, who has played overseas in several top leagues, spent the majority of her decorated A-League Women at the Roar, bar a one-season stint at Melbourne City in 2018-19.
The attacking midfielder, who has attended four World Cups and three Olympics, scored 74 goals in 179 matches for Brisbane.
Yallop, an inaugural Queensland Roar player aged 17 in 2008, won three premierships at Brisbane and scored in two grand final wins.
"The orange jersey is heavily immersed in my football journey and it will forever be a part of me," Yallop said.
"I am so proud and honoured to have lifted trophies and shared the field with such incredible players and people throughout my time at the club."
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