"In Craig we feel we have addressed a very important need within our organization," said Avalanche general manager Greg Sherman. "His overall performance last year was very impressive, and he is entering the prime years of his career."
The Avs also signed free agent forward David Koci to a one-year contract.
Financial terms for either agreement were not released.
"I had a few spots to choose from, but Greg Sherman provided the opportunity, and what I had heard about the organization, I knew it was where I wanted to be and the team I wanted to play for," Anderson said. "They provided me an opportunity to play and in a great city and for a great organization. I didn't think there could be a better matchup."
Anderson said there was another reason for choosing the Avalanche over other suitors. Having been a backup to Tomas Vokoun last year with the Panthers, he knew there was a chance for him to be a starter with Colorado.
"The goaltending situation there is a positive one," Anderson said. "They give me a fighting chance to come in and play 50 or 60 games, and that was the opportunity I was looking for."
The Avalanche went through last season with two goaltenders, Peter Budaj and Andrew Raycroft. Budaj is signed through 2009-10, while Raycroft is an unrestricted free agent.
Anderson, 28, spent the last three seasons with the Florida Panthers, where he accumulated a 24-14-0 record.
Koci, 28, appeared in 37 combined games with the Tampa Bay Lightning and St. Louis Blues.