PCA9306 Level Translator Hookup Guide
The PCA9306 is a dual bidirectional voltage translator for the I2C-bus and SMBus. It works at a range of voltages between 1.0 and 5.0V and doesn't require a direction pin to function.
This is a great board for shifting voltages between sensors and your microcontroller.
These level converters are pretty easy to start using, but you may want to check out some of the additional reading material below if you are unfamiliar with logic level shifting or haven't worked with Arduino boards prior to this.