Terms of the deal were not disclosed by JGR on Thursday.
Busch, who has won 24 NASCAR Sprint Cup races and made the Chase for the Cup five times since 2005, says he's staying with JGR after considering at least two other ownership groups.
Also, JGR will field the No. 54 Monster Energy Toyota in the Nationwide Series for at least 25 races, with Busch serving as the primary driver. Busch has 105 career wins spanning all three NASCAR series, including 51 on the Nationwide Series.
Gibbs says with Matt Kenseth joining Denny Hamlin and Busch on his Sprint Cup team, "this is the most excited I've been going into a season."