Morbidelli lost his ride with Yamaha for next season earlier this year as he continued to struggle to recapture his past form on the factory M1.
Initially linked to a switch to VR46 to ride a year-old Ducati next season, Marco Bezzecchi's decision not to go to Pramac opened the door for 2020 championship runner-up Morbidelli to secure a factory-spec GP24.
Ahead of this weekend's inaugural Indian Grand Prix, Pramac and Ducati confirmed Morbidelli's signing for 2024.
This move will see all four VR46 Academy members on the current grid riding Ducati machinery.
"I don't know if it will change for me and for us in terms of training," Bagnaia said of Morbidelli's appointment at Pramac Ducati.
"I'm just happy to have Franky on the Ducati because I think he deserves this possibility. For sure the last years in Yamaha for him were not the best situation possible.
"He arrived from an injury in 2021 and he arrived from a very old bike to a new bike, and it was not such a big difference, but many things changed [like] the crew chief.
"So, it was not the best situation for him, but everybody knows Franco's potential.
"So, for me it's great to have him on the same bike and we can start speaking about the same things, because sometimes we were speaking about our bikes but it's impossible to compare by just speaking.
"So, I'm very happy, I think he deserves it."
Morbidelli admitted enduring "frustrating" times this year listening to his fellow Academy riders discuss the form of the Ducati.
"For sure, I had some difficult moments listening to their feedback and understanding that it was so different to my feeling," he said on Thursday.
"It has been in some cases a little bit frustrating. Next year, everything is going to be the same, we're going to speak about the same topic."
Three-time MotoGP race winner Morbidelli will take Johann Zarco's place at Pramac next season, who has signed a two-year deal to race for LCR Honda from 2024.
