The 32-year-old utility man seemed so excited to announce his signing, he beat the Yankees to the punch, doing so via his personal Twitter account and adding the hashtag of "#IwannaRing!"
Hall batted .211 with two home runs and 14 RBIs in 199 plate appearances for the Astros and Giants last year, mostly at second base. Designated for assignment on July 28, Hall completed the season at Triple-A Fresno.
With the Yankees, Hall figures to compete for a bench role, boasting experience at third base, shortstop and second base, as well as at all three outfield spots.
A sixth-round pick in the 1998 First-Year Player Draft, Hall had one of the best seasons of his career in a utility role with the Red Sox in 2010, when he hit .247 with 46 RBIs, 18 homers and 44 runs scored.
He would make a base salary of $600,000 in the Majors, according to FOX Sports, and Hall could earn $600,000 more in incentives. He can also opt out of the contract on April 4 if he is not on the Major League roster.
The Yankees remain in the market to add a left-handed option for their designated-hitter slot, looking to complement Andruw Jones, who figures to receive some at-bats against left-handed pitching.
New York has been negotiating with veteran Raul Ibanez, while Johnny Damon and Hideki Matsui also loom as possibilities, though it is generally thought the Yankees would like to keep their expenditures under $2 million for the additional bat.
Managing general partner Hal Steinbrenner increased the club's payroll to accommodate a one-year, $10 million contract for right-hander Hiroki Kuroda and could be reluctant to do so again for a hitter.
Hall's signing does not necessarily preclude the return of Eric Chavez, whom the Yankees continue to have interest in. Chavez, 34, appeared in 58 games for New York last season, primarily playing third base.