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DANIEL Wells has joined Collingwood as an unrestricted free agent after accepting a three-year deal believed to be up to $1.8 million. 

In return, North Melbourne will receive a second-round pick, currently No.32, as compensation.

Wells leaves Arden St with a heavy heart after knocking back a two-year offer from the Roos, within the vicinity of $1.1 million.

WATCH: Get excited, Daniel Wells a Pie

"I enjoyed a wonderful time as a North Melbourne player and now I get the opportunity to play for Collingwood, a club I have always admired," Wells said in a statement released by the Pies. 

"I have to thank my two football families; North for the opportunity to play and the care they showed to me over the years, and Collingwood for the chance to take my career into a new and exciting phase.

"It will be a little strange, at first, calling myself a Magpie but I’m feeling very comfortable with it already and I couldn’t be more excited about a future in black and white." 

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Wells, who will be 32 at the start of next season, played 243 games with North Melbourne after joining the club as the second pick in the 2002 NAB AFL Draft.

Across his 14 seasons with the Roos, he was a dual All Australian nominee and equal club champion in 2011.

This season, he was back near his best averaging 23 disposals from 19 games, after two years ruined by a series of leg injuries.

But Wells' durability isn't a concern for the Pies, who expect the silky onballer to add some class to their midfield. 

"Daniel was ranked number one in the competition for score assists, he was in the top 10 per cent for kicking efficiency and averaged four inside 50s per game," list manager Derek Hine said.

"These are elite qualities and, of course, his ball use and decision making have always been of the highest order.

"Clearly, after a distinguished career with North Melbourne, it was a difficult emotional decision for Daniel to make but, ultimately, he saw a future with us that excited him."

After receiving pick 32 as compensation, the Roos now hold picks 11, 31, 32 and 68 in the upcoming draft.