Pelfrey, 29, spent the 2013 season with the Twins finishing with a 5.19 ERA in 152 2/3 innings of work.
The new deal for Pelfrey is for two-years and $11 million but also includes performance bonuses which could bring the total to $14.5 million.
Mike Pelfrey agrees to 2-year deal, $11M, $3.5M performance bonuses. #twins
— Jon Heyman (@JonHeymanCBS) December 15, 2013
Minnesota certainly sees something in Pelfrey and he becomes the third free agent pitcher singed by the team this offseason behind Ricky Nolasco and Phil Hughes.