The 40-year-old Whitney scored 24 goals and added 53 assists as a member of the Phoenix Coyotes in 2011-12. The 77 points represented his highest-scoring season since 2008-09.
"Ray Whitney was among the most productive players in the league last season and showed he remains extremely capable and dangerous," Stars general manager Joe Nieuwendyk said. "He's a winner, a competitor and a leader, and we're very excited he'll be a Dallas Star."
Whitney has 365 goals and 1,003 points in 1,229 career games with seven teams.
Information from The Associated Press contributed to this report.