Earlier Friday, the Denver Post's Mike Klis reported Fox to Chicago was a "done deal," while Fox Sports' Jay Glazer reported the deal is for four years. Jason Cole of Bleacher Report first reported on Thursday that Fox was set to join the Bears.
The Bears also interviewed Arizona Cardinals defensive coordinator Todd Bowles, Seattle Seahawks defensive coordinator Dan Quinn, Broncos offensive coordinator Adam Gase and Detroit Lions defensive coordinator Teryl Austin for the job before deciding on Fox.
Fox and the Broncos parted ways on Monday after four seasons, following the Broncos' 24-13 loss to the Indianapolis Colts in the AFC Divisional Playoff, the team's second home playoff defeat in the past three seasons.
Fox, 59, had a 46-18 record with the Broncos and took his team to the playoffs in each of his four seasons. Denver won a division title each season but failed to win a Super Bowl during Fox's tenure.
Fox has a 119-89 record in 13 seasons coaching Denver and the Carolina Panthers, winning six division titles and making two Super Bowl appearances.
Chicago has missed the playoffs in each of the past four seasons and went 5-11 this year. The team fired coach Marc Trestman and general manager Phil Emery after the season. The Bears hired Saints director of player personnel Ryan Pace as their new GM last week.
GALLERY: Coaches who went directly from one top job to another
- Scooby Axson