The team announced the one-year agreements Monday.
Porcello started 31 games last season for the AL Central champions, going 14-9 with a 4.75 ERA in a career-high 182 innings. The 23-year-old made $1,536,000.
Coke began last year in the starting rotation but moved back to the bullpen around midseason. He finished 3-9 with a 4.47 ERA in 48 appearances. In 34 relief outings after going back to the bullpen, he went 2-2 with a 3.71 ERA.
Coke can earn $50,000 in performance bonuses: $25,000 each for 65 and 70 relief appearances, or $25,000 apiece for 15 and 25 starts. He made $440,000 last year.