Xerri is set to play with the Storm until the end of the 2029 campaign, ending any hopes of the 25-year-old joining either the PNG Chiefs or Perth Bears inaugural rosters.
It comes after rumours swirled Melbourne, along with Parramatta, were looking to poach Xerri before June 30 after he was allowed to explore his options despite being contracted at the Bulldogs for 2027.
Xerri had a tumultuous start in his third season back from his four-year doping ban as he was dropped from the starting NRL side after Canterbury's Las Vegas opener before resuming his centre role in round six.
During that time, reports emerged Xerri was unhappy at the club, prompting the team to wear "we before me" emblazoned on the front of their shirts.
The media circus also drew criticism from Bulldogs great Josh Morris, who reminded the centre Canterbury had given him a lifeline after his ban.
But the signing is a big win for Melbourne as they are short on quality outside backs with Will Warbrick inking a deal with the Warriors for next year, while Nick Meaney is set to go to the Bears.
The 76-gamer will remain with the Bulldogs for the rest of the 2026 season before linking up with the Storm for the start of pre-season training.
Director of football Frank Ponissi said Melbourne were delighted to win Xerri's signature.
"He's a tough, competitive player with great speed and athleticism who we believe will be an important addition to our outside backs heading into the next three years," Ponissi said.
"We look forward to welcoming Bronson and his family to Melbourne ahead of the 2027 season."
Xerri is on the bench for the Bulldogs' clash against Canberra on Saturday with Matt Burton and Enari Tuala in the No.3 and No.4 jerseys respectively.
Elsewhere, Manly have announced Eels forward Toni Mataele has signed with the Sea Eagles for two years beginning next year.
Mataele has struggled to earn consistent minutes with Parramatta, having played just six games this season.
His signing is set to add further depth to the Sea Eagles' middles and will be a full-circle moment for the 23-year-old after he helped Manly claim their first premiership in the Harold Matthews Cup in 2018.
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