Woodson was flying to the Bay Area on Thursday night and was expected to officially sign the deal Friday, according to his agent, Carl Poston. ESPN first reported the deal.
Woodson, 37, came back to his original NFL team last season after spending the previous seven years with Green Bay, much to the delight of his legion of fans who hoped his return would help resurrect a struggling franchise.
While Woodson was able to start all 16 games a year after missing nine because of injury in Green Bay and he brought the leadership Oakland was seeking, he was unable to improve the results on the field as the Raiders went 4-12 for a second straight year.
That extended their run of seasons without a winning record or playoff berth to 11, starting late in Woodson's first stint in Oakland.
Woodson had 75 solo tackles, one interception, two sacks, three passes defensed, three forced fumbles and two fumble recoveries. He returned one fumble for his 13th career defensive touchdown, tying the NFL record held by Darren Sharper and Rod Woodson.
He also extended his streak of seasons with an interception to 16, tied for second best in NFL history to Darrell Green's 19.
Woodson expressed interest after the season in returning and the Raiders also wanted him back, leading to another one-year deal.
The Raiders have placed a priority on signing players with a winning pedigree this offseason. Woodson joins new defensive linemen Justin Tuck and LaMarr Woodley and returning safety Usama Young as Raiders with Super Bowl titles in their career. New cornerback Tarell Brown and defensive lineman Antonio Smith have played in Super Bowls previously.
AP Sports Writer Janie McCauley contributed to this report.
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