Myers confirmed in a phone interview on Friday night that he had signed a four-year deal. A league source told ESPN NFL Insider Adam Schefter the deal is worth $25 million, including $14 million guaranteed.
The 6-foot-4, 289-pound Myers made his first Pro Bowl last season after anchoring one of the NFL's top offensive lines. Houston set a franchise record for yards rushing (2,448) and ranked second in rushing offense (153 yards per game) in 2011, a key to its first playoff appearance.
Facing salary-cap restrictions, Houston cut right tackle Eric Winston on Tuesday. Williams signed a six-year deal with Buffalo on Thursday, and right guard Mike Brisiel signed a five-year contract with Oakland earlier Friday.
Myers, a sixth-round pick by Denver in the 2005 draft, has started all 64 regular-season games for the Texans since the start of the 2008 season.
The Texans were worried about losing Myers after cutting Winston and quarterback Matt Leinart on Tuesday to get under the salary cap. Owner Bob McNair wanted to keep Williams, the top overall pick in the 2006 draft, but the Texans couldn't match the big payday offered by Buffalo later in the week.
McNair said keeping Myers was another top priority. Myers said earlier this month that he wanted to return to the Texans, but that he was also ready to see what other teams might be able to offer him.
Myers thanked Houston fans on his Twitter account Friday night, after agreeing to return.
"Let me first say thank you to all of the dedicated Texans fans out there," he wrote. "I am extremely happy to stay here in Houston and be a Texan! Can't wait to get back down to work and build on last season's success!"
Information from The Associated Press was used in this report.