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The 23-year-old centre or stand-off rejected the offer of a new deal with the Bulls and is one of four players leaving Odsal at the end of the season.
Bradford captain Jamie Peacock has signed for Leeds, Stuart Reardon is expected to join Warrington and Lee Radford is returning to Hull.
Pryce has made 199 appearances for the Bulls since joining them from local amateur club Queensbury in 1998 and has won six Great Britain caps.
Saints coach Daniel Anderson said: ?This is a key signing for the club as we believe Leon can be developed further to establish himself as one of the best players in Super League, while also providing great versatility for the Saints.?
Pryce becomes the third high-profile signing by St Helens for 2006, following the capture of New Zealand internationals Jason Cayless and Francis Meli from Sydney Roosters and New Zealand Warriors respectively.
Thursday?s announcement marks the September 1 deadline for Super League clubs to officially approach players from rival clubs.
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Thanks to www.superleague.co.uk for this news.