Moss, an eight-year NHL veteran, has played with the Coyotes for the last two seasons, tallying 13 goals and 29 assists in that span.
Coyotes insider Sarah McClellan reports the one-year, one-way deal is for $800,000. He previously earned $4.2 million over two years in the Valley.
The 32-year-old spent the first six years of his career with the Calgary Flames, where he scored 61 goals and had 63 assists.
"David is an intelligent, steady, reliable player who fits into our style of play," general manager Don Maloney said in a statement. "We are pleased David decided to resign with us in Arizona."