Betancur won Paris-Nice in 2014 and came fifth in the Giro d’Italia in 2013, but went awol in Colombia from his AG2R team last season, coming back visibly heavier.
The 26-year-old rider and the French team separated by mutual consent in August.
“It’s an honour for me to join the best team in the world,” Betancur said on Instagram.
Movistar’s top rider is Nairo Quintana, also a Colombian climber, and Betancur is likely to be seen as a key domestique in the mountains for the 2014 Giro d’Italia winner and runner up at the Tour de France in 2013 and this year. – Agence France-Presse