The saga surrounding Wayne Bennett's future has finally been resolved after Brisbane Broncos confirmed he will not fulfil the final year of his contract.

Last month the South Sydney Rabbitohs announced seven-time NRL winner Bennett would join them from 2020, with the Broncos insistent he would see out his deal in Brisbane.

Bennett subsequently denied reports the move would be brought forward, however that is exactly what has happened after the Broncos' announcement on Sunday.

His departure was confirmed hours before Anthony Seibold's appointment was ratified, the Souths coach having already agreed to replace Bennett from 2020.

Soon after the Rabbitohs announced Bennett's arrival on a three-year deal, an additional 12 months from his original deal.

"I'm really pleased it's all resolved and that I can join this great club with a free mind, knowing I did the right thing by the fans, staff and players," Bennett told the Souths website.

"I'm really looking forward to being at South Sydney and working with the players, staff, board and all of the members.

"It's a wonderful club, South Sydney, and I feel privileged to have the chance to coach this team."