Soto has played for four teams in 11 major league seasons. The former Chicago Cubs backstop spent last season on the other side of town with the White Sox, batting .219 with nine homers and 21 RBIs in 78 games.
Soto will team with Carlos Perez behind the plate for Los Angeles. Perez shared the job last season with Iannetta, whose offensive production plummeted in his fourth season with the Angels.
In addition to his base salary, Soto can earn $800,000 in performance bonuses based on starts: $75,000 for 70; $100,000 each for 75, 80, 85, 90, 100 and 110; and $125,000 for 120.