Jesse Ramien will return to the black, white and blue in 2020 after the NRL approved his four-year Cronulla contract.
The Sharks have successfully lodged Ramien's new deal and with 25 roster spots currently filled, have enough salary cap space to fill out the rest of their top 30 with cut-price players.
The move brings to an end months of uncertainty for Ramien – touted as a representative centre of the future - after his abrupt exit from Newcastle.
He is due to report for Sharks training next week, with the deal expected to be announced by the club then.
The 22-year-old never settled in his first year at the Knights and was granted an immediate release in August.
He initially met with the Cowboys and Canterbury but a return to Cronulla had been Ramien's first preference.
That required careful salary cap manoeuvring from the club, and it remains to be seen whether one of the big names shopped to rival outfits will still be moved on.
Rising back-rower Kurt Capewell is still yet to have his future sorted despite interest from the Knights and Warriors, while Super League club Leeds have also met with Matt Prior's agent regarding a potential UK move for the veteran prop.
It's believed Tongan international Andrew Fifita has taken a six-figure pay cut to help ease the salary cap strain at the club.