Born in Llanelli, Jones moved with his family to Dublin 10 years ago due to his fathers employment, leading to him representing Ireland at U-18 level during this season's Five Nations Festival which was held at Llandovery RFC in April.
Speaking about the move to the Ospreys, he said: "I'm really excited about signing for the Ospreys and coming home to Wales. I've had a look around Llandarcy and the set-up is pretty amazing, I can't wait for pre-season to start now.
"Although I recently played for Ireland, I am Welsh; When Wales play Ireland I'm always wearing a red jersey not a green one! The Ospreys are giving me a fantastic opportunity and I'm really looking forward to working with the coaches and players there. Lee Byrne is probably the best full-back in the world so it'll be good to learn from him, and hopefully, in the future I can reach the senior Ospreys team and maybe even wear the red jersey for real!
"There's an excellent development system at the Ospreys and a lot of really good young players so it's a good place for me to be."
Elite Performance Director, Andrew Hore, added: "We are committed to developing young Welsh talent at the Ospreys, and as such, are extremely pleased to be able to bring Ross back to Wales and to give him the opportunity to carve out a playing career in his homeland.
"Our scouting network had identified him as an exciting young prospect, and he now has a three year development contract with the region. The structures and systems in place here are geared towards giving young players such as Ross every opportunity of representing both the Ospreys and Wales, and we look forward to welcoming him into our set-up when he reports for pre-season training."