The terms of the deal have not yet been disclosed.
Moss, who will turn 35 this June, has played nine years in Washington, making him the longest-tenured member of the Redskins. He caught 42 passes for 452 yards and two touchdowns last season, his lowest yardage and touchdowns totals since he joined the team in 2005. Moss's production has dipped the last three seasons after he caught 93 passes for 1,115 yards and six touchdowns in 2010, which was one of his most productive years in the NFL.
Pierre Garcon led Washington in receiving last year, catching 113 passes for 1,346 yards and five touchdowns. The Redskins also boast promising young tight end Jordan Reed as well as receivers Leonard Hankerson and Aldrick Robinson, and on Tuesday they signed former Cardinals wideout Andre Roberts to a four-year deal, so Moss's role in the passing game will likely continue to be limited.
Garcon recently told ESPN 980 in Washington that he wanted Moss to return (via Redskins.com):
"I would love him to come back," Garçon recently told ESPN 980. "He definitely helps me out with my game, and it helps everybody in the receiver room with a definite leader on our team.
"We would definitely love him to come back and definitely need him to come back to help our offense to move forward."
Washington finished last season 3-13, losing their final eight games of the season to finish at the bottom of the NFC East. After the team fired head coach Mike Shanahan in the offseason, Washington hired former Cincinnati Bengals offensive coordinator Jay Gruden to take the job. Gruden will be the fourth head coach of the Redskins since Moss joined the team.