Free-agent pitcher Bronson Arroyo and the Arizona Diamondbacks have reached agreement on a two-year, $23.5 million contract with a club option for a third year, team president Derrick Hall confirmed Friday.

Arroyo, who turns 37 this month, will make base salaries of $9.5 million in 2014 and 2015. The deal includes an $11 million club option for 2016 and a $4.5 million buyout.

The Baltimore Orioles also made a serious run at Arroyo, who was one of the top remaining pitchers left on the market.

Arroyo is 138-127 with a 4.19 ERA over 14 seasons with Pittsburgh, Boston and Cincinnati. He's pitched for the Reds since 2006, when they acquired him from the Red Sox in a trade for outfielder Wily Mo Pena, and was 14-12 with a 3.79 ERA and 124 strikeouts last season.

Arroyo's trademark is durability. He's surpassed 200 innings in eight of the past nine seasons. The lone exception was 2011, when he battled Valley Fever, mononucleosis and a case of whooping cough that caused him to lose 17 pounds. He still made 32 starts and logged 199 innings, and he has yet to appear on the disabled list in the big leagues.

Arroyo joins Patrick Corbin, Wade Miley, Trevor Cahill and Brandon McCarthy in Arizona's projected rotation. Randall Delgado is also in the mix, and top prospect Archie Bradley is working his way through the team's system and could be in the big leagues sometime this season.

Information from The Associated Press was used in this report.