Shoemaker, 34, can earn another $250,000 in performance bonuses, sources said.
He made six starts last year in his second season with the Toronto Blue Jays, going 0-1 with a 4.71 ERA.
Shoemaker's best years came while he was a member of the Los Angeles Angels. He posted 20 or more wins in three straight seasons (2014-2016), but hasn't won more than seven games in a season since 2017, as he has been slowed by injuries.
He was limited to seven starts with the Angels in 2018 because of a strained forearm and previously sustained a skull fracture when he was hit by a line drive in late 2016.
Shoemaker's first season in Toronto was cut short when he tore his left ACL in a rundown in April 2018 and missed the rest of the season.
Information from The Associated Press was used in this report.