Wood holds the record as the top-scoring American in a German season having plundered 17 goals for Union Berlin in Bundesliga 2 in the 2015/16 campaign.
However, the 25-year-old struggled to recreate that form in two years with the Red Shorts, making just 18 starts last term as the northern giants suffered their first-ever relegation from the German top-flight.
Watch: Bobby Wood's Top 5 goals!
Still a USMNT regular with 12 goals in 32 international appearances to his name, Wood – and his new club – remain confident that he can get back to the irrepressible form of old under Andre Breitenreiter.
“I had very good conversations with the coach and I know what the club want to achieve, what kind of football they want to play and what my role can be," Wood told Hannover's official website. "This is the perfect move for me. Hannover played some exciting football last season and I’m confident my style fits with how the team plays.”
Martin Harnik, Felix Klaus and Jonathas are among the attacking talents to have left Hannover this summer, so Wood is expected to slot straight into the first team, with Saturday’s friendly against fourth-tier Havelse likely to be his debut.