Alex Smith is officially back with the Niners, as he and the team have come to terms on a three-year deal.
Financial terms were not disclosed, but the 49ers were reportedly offering Smith a three-year, $24 million contract prior to the start of the 2012 league year.
The team went hard after Peyton Manning, but turned their sights back to Smith after Manning announced that he was joining the Denver Broncos early Monday.
Smith is coming off his best year as a pro by far, throwing for 3,144 yards with 17 touchdowns and just five interceptions as he got the Niners to OT of the NFC Title game.
The former first-round pick completed 58 percent of his pass attempts for 12,543 yards with 68 touchdowns and 58 interceptions over his 70-game career with the 49ers.
After last year’s lockout, Smith signed a one-year, $4 million contract that also included up to $3 million in various incentives.
Smith drew interest from both the Dolphins, who signed David Garrard, and Seahawks, who signed Matt Flynn to a three-year contract.