McCown's agent revealed on twitter that his client has secured the deal: "Congrats to Veteran QB Luke McCown agreeing to a 1 year contract with the @Saints" Mike McCartney tweeted today.
No monetary figures have been released for the contract but it is not expected to be a huge contract due to the lack of playing time he is set to receive.
McCown's older brother, Josh recently signed a deal with divisional rivals Tampa Bay Buccaneers and is expected to start after impressing last season for the Chicago Bears.
Luke McCown did see playing time last season as the holder for placekicker Garrett Hartley, who will also return for 2014.
McCown is 32 years-old and has spent time with the Cleveland Browns, Jacksonville Jaguars, Atlanta Falcons and Tampa Bay Buccaneers during a 10-year NFL career.
During that career he has thrown for over 2,000 yards, nine touchdowns and 14 interceptions in 38 games.