Under the deal, which begins in October, HBO will be Simmons' exclusive television home, the network said Wednesday.
Among other projects, Simmons will host a weekly talk show premiering next year. It will feature stories and guests from across the sports and cultural landscapes.
He will also have a production deal to produce content for the network and its digital platforms, delivering video podcasts and features. In addition, he will consult with HBO Sports.
A top personality at ESPN until they parted ways in May, Simmons has served as a sports columnist, TV host and analyst, and bestselling author. He was also the founding editor of the Grantland.com website.