
Mbu joins a squad already strong in the wing position, especially following the announcement of Paul Sackey's return from London Irish on Monday, but the player says he is relishing the move.
"Joining London Wasps was an offer I could not refuse," Mbu said.
"It won't be easy to secure a regular place. However, I'm up for the challenge."
Wasps boss Warren Gatland sees Mbu as a player with vast potential.
"I watched Joe when he was at Bath and then Quins, and he had tremendous power and pace," he said.
"At 108kg, he is a difficult player to stop when he gets going. Securing his services was an opportunity we could not miss."
Wasps are also set to extend the contracts of Tim Payne and John Hart for three and four years respectively.