The Cronulla Sharks have announced the signing of versatile Melbourne Storm fullback Nicho Hynes.

Hynes will join the Sharks in 2022 on a three-year deal which will see him stay in the Shire until at least the end of the 2024 season.

"Nicho came to us on a train and trial contract from the Sunshine Coast Falcons with nothing guaranteed after that and ended up as a NRL premiership player with plenty more great football in front of him," said Storm General Manager – Football Frank Ponissi on the club website.

"He has worked hard and has got the rewards. We would have loved to have been in a position to extend Nicho’s time with Storm, but unfortunately, with his desire for a regular starting spot and the pressures of the salary cap, that hasn’t been possible.

"Nicho is an outstanding footballer, but just as importantly is an outstanding young man who is loved and respected by everyone at Storm.

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"We will continue to follow his career and wish him all the best for beyond this season.

"In the meantime, he will remain an important member of our 2021 squad as we push into the second half of the year."

The Daily Telegraph is reporting the deal is worth an estimated $1.8 million over the length of the contract, with the Sharks beating four rival clubs for Hynes' signature.

The Sharks deal trumped an offer made by the Warriors which was reported earlier today, while the Broncos and Raiders were also said to be heavily involved in negotiations.

Hynes is likely to get first shot at the five-eighth position for the Sharks in 2022 with Chad Townsend heading to the North Queensland Cowboys, while Matt Moylan and Shaun Johnson are both off contract.

Hynes' signature follows the recent re-signing of fullback Will Kennedy and forward Toby Rudolph and is a big boost for incoming coach Craig Fitzgibbon as he builds his roster.