Scott batted .229 with 14 homers and 55 RBIs in 96 games in a disappointing debut with the Rays last season, when he spent two stints on the disabled list due to back stiffness and a mild strain of his right oblique.
The Rays announced the deal on Wednesday. It includes $750,000 in performance bonuses based on plate appearances: $50,000 for 400, $150,000 for 450, $250,000 for 500 and $300,000 for 550.
Scott has spent parts of eight major league seasons with Houston, Baltimore and Tampa Bay. He's a .260 career hitter with 126 homers and 396 RBIs.