There's no word yet on how long the deal is for, but it's said to be a multi-year deal. WWE has been re-signing talents to four and five year contracts as of late.
Reigns reportedly signed the new contract in July.
Reigns, who returned to WWE action from his second battle with leukemia back in February, is currently a member of the SmackDown brand. WWE has The Big Dog involved in a mystery attacker storyline that has him feuding with Buddy Murphy, Rowan and Daniel Bryan. It's believed that the recent angles will lead to a big singles match between Reigns and Bryan.
Reigns vs. Murphy will take place on tonight's SmackDown.