Forte has agreed to a four-year contract with the Bears worth roughly $32 million, according to ESPN.com's Adam Schefter.
The two sides had until 4 p.m. ET on Monday to reach an agreement, or the running back would have played the upcoming season under the $7.749 million franchise tender placed on him in March or would have sat out the year.
Forte rushed for 997 yards in 12 games last season while also compiling 52 catches for 490 yards. The 26-year-old missed the remainder of the season after spraining his MCL in a Week 13 loss but was still selected to his first career Pro Bowl.
Forte rushed for a career-high 1,238 yards and eight touchdowns as a rookie in 2008.
Photo via Facebook/Matt Forte