He will join Luke Darcy, Brian Taylor, Matthew Richardson, Cameron Ling and Sam Lane for the hour-long preview show on Saturday Night Footy.
Molloy was part of TEN’s Before the Game which was axed late last year.
“It’s the biggest move for Seven since Celebrity Splash. And I couldn’t be happier to be at Seven, the only network that hasn’t sacked me yet,” said Molloy.
Managing director of Seven Melbourne, Lewis Martin, said: “Rumours of a nine-year deal testing our salary cap are wide of the mark. But we can confirm that Mick brings an entertaining voice from the outer which footy fans will love.”
Saturday Night Footy returns at 6.30pm AEDT on Saturday March 15, Live on Seven and 7mate.