The New York Yankees announced a one-year agreement with Gleyber Torres to avoid arbitration.

According to Mark Feinsand of MLB.com, Torres will make $9.95 million for 2023, which is the midway point between the two sides.

Torres had filed at $10.2 million, while the Yankees put their number at $9.7 million, as Jon Heyman of the New York Post previously reported.

The final tally is slightly above the $9.8 million projection from MLBTradeRumors, and it's a significant boost from the player's 2022 salary of $6.3 million.

Torres is coming off a bounce-back season with the Yankees where he hit .257 with 24 home runs, 76 RBI and a .761 OPS.

The 26-year-old burst onto the scene as a highly touted prospect and lived up to expectations when he reached the majors with an All-Star selection in each of his first two seasons. He finished third in Rookie of the Year voting in 2018 and earned MVP votes in his second season when he hit 38 home runs and 90 RBI.

Torres' production sharply declined over the next two years, totaling just 12 home runs across 169 games in 2020-21. He had just a .703 OPS in this time and struggled defensively at shortstop.

A move to second base in 2022 helped him reestablish himself as a valuable two-way player. His 4.1 wins above replacement ranked third on the Yankees last year behind only Aaron Judge and Nestor Cortes, per Baseball Reference.

With his 2023 contract behind him, Torres can focus on helping New York make a deeper run in the postseason after getting swept in the American League Championship Series last year.

The infielder is also slated to go to arbitration in 2024 before potentially hitting free agency the following year.