Sources told ESPN's Jeff Passan that the deal -- to run through the 2027 season -- is for $64 million, and it includes a $2 million signing bonus, payable within 30 days of the deal's approval by the commissioner's office.
Javier gets salaries of $3 million this season, $7 million in 2024, $10 million in 2025 and $21 million in each of the following two years, according to the sources.
His salaries in the final two years can increase based on Cy Young Award voting, by up to $6 million in 2026 and $8 million in 2027. He would get a $2 million boost for each first-place finish, $1 million for second and $500,000 for third through fifth.
Javier has the right to block trades to 10 teams without his approval in 2026 and 2027.
A 25-year-old right-hander, Javier went 11-9 with a 2.54 ERA in 25 starts and five relief appearances last year, striking out 198 and walking 52 in 148⅔ innings. He set career bests for wins, ERA, strikeouts and innings.
Javier won both his postseason starts, pitching 11⅓ scoreless innings in Game 3 of the American League Championship Series against the Yankees and Game 4 of the World Series against Philadelphia.
He started a pair of no-hitters, pitching seven innings at the Yankees on June 25 and six innings in the game at the Phillies -- just the second no-hitter in World Series history.
Javier had asked for $3.5 million in arbitration and had been offered $3 million. He made $749,100 last year.
The Associated Press contributed to this report.