Parra confirmed he would be joining Colorado in an Instagram post on Tuesday.
Parra, 28, finished the 2015 season hitting .328 with 14 home runs and 51 RBIs in 155 games. In July, the outfielder was traded from the Milwaukee Brewers to the Baltimore Orioles in exchange for pitching prospect Zach Davies.
Parra began his career in 2009 with the Arizona Diamondbacks before joining the Brewers in 2014. Over his seven-season major league career, Parra has hit .277, tallying 56 home runs, 182 doubles and 311 RBIs. The two-time Gold Glove winner has played all three outfield positions throughout his career.