The deal, agreed to last week, was announced Friday.
Bonifacio returns to the Braves after spending part of the 2014 season in Atlanta. He played last season with the Chicago White Sox, hitting just .167 before being designated for assignment in mid-August.
The 30-year-old Bonifacio can earn up to $1 million in performance bonuses based plate appearances: $200,000 each for 250, 300, 350 and 400, and $100,000 apiece for 450 and 500. He is expected to serve a backup role for the Braves.
To make room on the 40-man roster, the Braves designated right-handed pitcher Brandon Cunniff for assignment.