Shaun currently stands second in the all-time Ospreys appearance list with 97 (four behind Barry Williams), and is behind just Gavin Henson in the points list on 475. In his time at the Ospreys, he kicked 19 drop goals, 16 more than his nearest rival, James Hook.
Connor said: "I've had a great five years at the Ospreys. I've enjoyed every minute of it and there's been some real high points, but I'm realistic enough to realise that with James Hook there and young players like Dan Biggar and Gareth Owen coming through, game time for me next season would be limited. I'm at the stage of my career now where I want to be playing regularly and the Dragons have offered me an opportunity to do just that so I'm delighted to be signing for them for the next two years.
"It takes my career full circle, I'm heading back to my Gwent roots as an experienced professional. There are a few familiar faces at the Dragons that I'm looking forward to meeting up with again, and the challenge of helping develop my home region is one that I'm looking forward to."
Ospreys Head Coach Lyn Jones added: "Shaun has had a big impact on the Ospreys during the first five years of our existence, his record is clear for all to see. I have worked with him for seven years and have never found him to be anything other than the complete professional, and a great individual to have around the camp.
"His finest moment at the Ospreys was when he guided us to success against Australia, where he displayed his usual doggedness, experience and efficient style. We're sorry to see Shaun leaving, but with James Hook now firmly established and a number of youngsters coming through he felt that a return home would be in his best interests, and everybody at the Ospreys wishes him the best for the future, once this season is over."