The move was announced by PNG Rugby League Football CEO Bob Cutmore at a press conference in PNG.
Olam will remain with the Hunters for the rest of the season, before joining Storm for the 2017 and 2018 campaigns.
“Justin made a commitment to himself and his family that he would dedicate himself to making the NRL – a commitment that is now in sight,” PNG Rugby Football League CEO Bob Cutmore said.
“Justin’s commitment and dedication has paid off and this is a wonderful opportunity for him.”
The player is relishing the chance to play in the world’s biggest rugby league competition.
“It has always been my dream to play in the NRL. This is a great opportunity for me and I will give my best to make the most of it,” said Olam.
“I want to thank the Lord firstly because without him, I am nothing.
“Thanks to the sponsors for the making the Hunters program possible, coach Michael Marum, my old club the Lae Snax Tigers and of course my family and friends.
“Thank you to everyone who has supported me. I really appreciate it,