Jon Heyman of CBS Sports reported that Soria will make $25 million on his deal when it is finalized. Soria's $8.3 million annual average value (AAV) has been the highest for a relief pitcher this offseason.
Soria becomes the third relief pitcher to agree to a deal in the past 24 hours, with Darren O'Day and Ryan Madson agreeing to contracts with the Orioles and Athletics, respectively.
While Soria does have closing experience, it's still a mystery as to whether the Royals will use him in that role. They non-tendered 2015 closer Greg Holland due to Tommy John surgery. Wade Davis held the Royals' closing role through the postseason.
Soria has already spent a large portion of his career with Kansas City, pitching there from 2007 to 2011.
The Royals are known for building good bullpens and while Soria is a more expensive piece than what they are used to, he will surely be a nice fit there.
Last season, Soria spent time with the Tigers and Pirates. Overall, he pitched to a 3-1 record with a 2.53 ERA in 67 2/3 innings pitched, striking out 64 and walking 19. He saved 24 games in 30 opportunities and added 11 holds.