Making 15 appearances for the Blues, the renowned line-out specialist earned himself a move to Air New Zealand Cup side Manawatu Turbos in 2007.
Goode enjoyed three successful seasons down under before the 6ft 7" 17st 8lb forward returned to his native Wales, with the Ospreys in November 2009.
Originally signing a short-term contract with the RaboDirect PRO12 outfit, Goode extended his stay by penning one-year extension followed by a three-year deal in 2011.
"I am really impressed with the set-up at Kingston Park and I am looking forward to the challenge of helping the club secure its Aviva Premiership status," said Goode who is English qualified by virtue of his mother's birthplace.
He added: "It was a long drive up to Newcastle and I met Gary Gold and the players at the training ground. I must admit I have not really had chance to watch much of the Aviva Premiership this season, but I did see the Falcons narrow defeat at Bath and then the win against London Irish, so things are certainly on the up for the club."
Goode has featured five times for the Ospreys this campaign including three appearances in the RaboDirect PRO12. His latest appearance was a full 80 minutes He has been on the winning side in all three of his PRO12 outings and Gold believes Goode is a great acquisition for the Falcons.
Gold said: "James [Goode] provides us with some good cover in the pack and with James Hudson currently recovering from his injury, he will add some fire-power as we continue our fight-back in the Aviva Premiership."