"After being granted permission to officially train with the club late last week, Segeyaro has been provided with a release from Leeds Rhinos and once his new contract has been registered by the NRL, will be eligible to turn out for the Sharks," a Cronulla statement said.
Segeyaro joined Leeds last July and inspired nine wins in his 10 games, but failed to return from Australia for pre-season training in the UK, citing homesickness.
He was under contract for another two years at Leeds. The Rhinos initially threatened to sue Segeyaro and demanded a $A400,000 transfer fee, but it is believed a release has been granted after the negotiation of a settlement fee.
Sharks coach Shane Flanagan said 103-game NRL veteran Segeyaro would be invaluable in assisting young Sharks hooker Jayden Brailey, as he stepped up in the absence of retired rake Michael Ennis.
"I'm excited to have him in my squad," Flanagan said. "James has missed a fair bit of training and we probably won't see the best of him for a few weeks.
"However, he is a quality player and one that will certainly add something to our team. He gives us some real competition at hooker, and Jayden will need some help during the year and James will provide that."
