Australian and Queensland outside back Valentine Holmes has reportedly backflipped on a decision to stay at the North Queensland Cowboys and see out his contract and will instead sign with the St George Illawarra Dragons from 2025.

According to News Corp, Holmes has signed for three seasons on a deal worth $2.5 million.

Holmes won a premiership under Shane Flanagan at Cronulla in 2016 with an announcement from the Dragons set to be made later on Wednesday.

The goal-kicking utility back had also been linked to a switch to the Sydney Roosters.