The deal is for $4.5 million, a source said.
Motte has spent his whole career with the Cardinals and was their closer in 2011 when they won the World Series. He later had elbow trouble and missed the entire 2013 season following Tommy John surgery.
Last season, Motte struggled through back injuries, posting a 4.68 ERA in 29 appearances.
Before missing 2013, Motte had a career year in 2012. He made 67 appearances, pitched 72 innings, racked up 42 saves and had a 2.75 ERA.