Former Yankees reliever Rafael Soriano and the Nationals have agreed to a $28 million, two-year deal with a third-year vesting option for $14 million, a baseball source told ESPN.com senior writer Jerry Crasnick on Tuesday.
The option reportedly rests on whether the right-hander finishes 120 games combined over 2013 and 2014.
Soriano, 33, filled in for injured closer Mariano Rivera last season, finishing with 42 saves and a 2.26 ERA in his 11th season.
Soriano has also pitched for the Mariners, Braves and Rays. He closed for Atlanta in 2009 and Tampa Bay in 2010, when he was an All-Star and named the AL's top reliever with the Rolaids Relief Award, finishing with 45 saves and a 1.73 ERA.
Soriano opted out of the last season of a three-year contract with the Yankees in October, taking a $1.5 million buyout. He would have been paid $14 million had he remained for the final season of the deal.
Soriano will join a Nationals bullpen that already includes Drew Storen and Tyler Clippard.
Washington will lose its first-round draft pick, and the Yankees will gain an extra pick after the first round.
Information from The Associated Press was used in this report.