The Red Sox also agreed to a one-year, $6 million deal with veteran left-hander Martin Perez, a source confirmed to ESPN. The deal, which was first reported by The Athletic, includes a club option at $6.25 million.
Perez spent last season with the Twins, going 10-7 with a 5.12 ERA. He had spent the previous seven seasons with the Rangers, posting double-digit wins three separate times.
The 25-year-old Peraza spent the past four seasons with the Reds. Known for his good eye at the plate, he hit .288 with 85 runs scored, 14 home runs and 23 steals in 2018, but those numbers dipped some this past season, when he posted a .239-37-6-7 line.
He was nontendered by the Reds earlier this month.
Peraza likely will fill a utility spot for a Boston team that isn't expected to bring back free agent Brock Holt. He will bring versatility to the Red Sox's defense. Since breaking into the big leagues in 2015, he's played at least five games at every non-pitching position but first base, right field and catcher.
MLB Network reported that the deal is close to $3 million plus incentives.