Davis spent one year in the top flight with Sunderland and, at 35 years of age, he has another opportunity to test himself on the big stage.
"This is a great achievement," he said. "I had one brief spell in the Premier League and that was not that enjoyable.
"Now I can't wait to be there again.
"There's no doubt this club is ready for the Premier League. It has a great infrastructure and is growing.
"It's all about growing in a controlled way which it has and I'm just so pleased these rewards have come.
"The fans have backed us all the way, playing their part and sticking with us and they deserve it so much and I'm delighted for them."