The sides still had to finalize language and the deal will be subject to a physical, the person said, speaking on condition of anonymity because the agreement was not complete. Suzuki will get $6.5 million a year.
Acquired from the Seattle Mariners on July 23, the 39-year-old Suzuki revived his career in New York. His batting average jumped from .261 with the Mariners, to .322 with the Yankees, with five homers, 27 RBIs and 14 steals.
A 10-time All-Star, Suzuki has 2,606 hits in 12 major league seasons.
Also Friday, New York finalized a $12 million, one-year contract with Kevin Youkilis, who is expected to start at third base during the first half of the season while Alex Rodriguez recovers from hip surgery scheduled for next month.
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