First Round

The Dodgers, Mets and Yankees receive a 10-pick penalty on their first picks for exceeding the second surcharge threshold of the Competitive Balance Tax.

Prospect Promotion Incentive Picks

If a player who was rated as a preseason Top 100 prospect by MLB Pipeline, Baseball America, and/or ESPN (at least two of the three) and was on his team's Opening Day roster and goes on to win the Rookie of the Year Award or place in the top three in MVP or Cy Young voting prior to qualifying for arbitration, the club is awarded a Prospect Promotion Incentive pick after the first round.

Compensation picks

If a team that loses a qualifying free agent is a revenue-sharing recipient and the free agent signs for at least $50 million, the team will be awarded a pick between the first round and Competitive Balance Round A.

The picks would be awarded if the following players sign elsewhere:

Anthony Santander, Orioles

Competitive Balance Round A

All teams that have either one of the 10 smallest markets or 10 smallest revenue pools receive an additional pick at the end of the first or second round. The groups of teams alternate between the two rounds each year.

Competitive Balance picks may be traded and are not subject to forfeiture. However, Competitive Balance picks acquired by another club in a trade are subject to forfeiture.

The Dodgers, Mets and Yankees each received a 10-pick penalty on their first picks for exceeding the second surcharge threshold of the Competitive Balance Tax, meaning their first picks will occur in Competitive Balance Round A.

Second Round

The Astros, D-backs, Giants, Mets and Yankees forfeited their second-round selections as a result of signing free agents who had received qualifying offers.

Competitive Balance Round B

Compensation picks

If a team that loses a qualifying free agent does not receive revenue sharing and did not exceed the luxury-tax salary threshold the previous season, it is awarded a compensatory pick after Competitive Balance Round B.

The picks would be awarded if the following players sign elsewhere:

Nick Pivetta, Red Sox

Third Round

The Athletics forfeited their third-round selection as a result of signing Luis Severino.

Compensation picks

Fourth Round

Compensation picks

If a team that loses a qualifying free agent does not receive revenue sharing and did exceed the luxury-tax salary threshold the previous season, it is awarded a compensatory pick after the fourth round.

The Mets received a compensatory pick when Luis Severino signed with the Athletics but subsequently lost it as part of the penalty for signing Soto. The Yankees received a compensatory pick when Juan Soto signed with the Mets but subsequently lost it as part of the penalty for signing Max Fried.

The picks would be awarded if the following players sign elsewhere:

Alex Bregman, Astros
Pete Alonso, Mets

Fifth Round

The Giants and Astros forfeited their fifth-round selections as a result of signing qualified free agents.

Remaining rounds