Terms were not disclosed, but a source told ESPN's Jerry Crasnick that Moreland will make $13 million, plus an additional $1 million in incentives.
Moreland, 32, signed with the Boston Red Sox in the 2016 offseason and accumulated more than 500 at-bats for the first time in his career. But that was also bad news for Moreland. After playing primarily against right-handed pitchers during his six seasons with the Rangers, lefty-hitting Moreland played nearly every day for the Red Sox and got exposed.
After a strong first half, he hit .231 with 10 homers and a .736 OPS after the All-Star break.
Drafted by the Rangers in 2007, Moreland made his major league debut midway through the 2010 season and was part of the team's first of two straight World Series appearances that October. He has a .252 average with 132 homers and 433 RBIs in 922 big league games.
ESPN's Scott Lauber contributed to this report.