The 27-year-old has agreed a two-year contract with the Shrimps and will join them on July 1, upon the completion of his current deal at Salford City.
A former Scotland U21 international, Love came through the ranks at Manchester United for whom he played twice in the Premier League and Europa League.
He also had a loan spell at Wigan Athletic before joining Sunderland in August 2016 with Paddy McNair for a combined fee of £5.5m.
Injury meant the defender only played 34 times for the Black Cats before being released with 12 months remaining of his initial four-year contract at the Stadium of Light.
He then moved to Shrewsbury Town, spending two years there before joining Salford on deadline day last August and making 29 appearances for the Ammies.
“I am delighted to sign for the club,” Love told the club website.
“I heard about Morecambe’s interest about a week ago and, after speaking to the manager and Greg Strong (head of recruitment) about the interest and their plan, I was keen to get the deal done.
“It is nice to get everything sorted before the start of pre-season, which means I can get in and get to know the lads at the first opportunity.
“There are some big clubs in League One. It is great to be a part of this club and I hope that we can kick on and not just fight relegation, I believe that we can go on and achieve great things.
“My strongest position is probably at right-back. I can cover positions anywhere across the backline and I’d be happy to do so, I just want to come in and produce at full-back.
“After speaking to Greg and the manager, I knew that I wanted to come here and play football, I want to come in and hopefully do well for the club.
“Fans can expect high energy, a lot of strong tackles and, as a team, I am hoping that we can play some nice football too.”
Adams added: “Donald is our first signing of the summer and I am delighted to bring a player with his experience to Morecambe FC.”