CHICAGO -- Drew Smyly made it clear as last season came to a close that he hoped to still be part of the Cubs’ plans next year. A reunion has indeed come to fruition.

On Saturday, the Cubs announced the signing of Smyly on a two-year contract with a mutual option for 2025. Sources told MLB.com that the deal is worth $19 million guaranteed. The lefty is set to earn $8 million in '23 and $8.5 million in '24, plus the $10 million option (or $2.5 million buyout) for the third season. 

To clear a spot on the 40-man roster, the Cubs designated righty Erich Uelmen for assignment.

Smyly returns to a Cubs rotation led by Marcus Stroman and Kyle Hendricks, and fortified by the recent signing of free-agent right-hander Jameson Taillon to a four-year, $68 million deal. Lefty Justin Steele is also a virtual lock for a rotation role after his strong showing last season.

By lengthening out the starting cast with Smyly, the Cubs can use this spring to weigh whether Adbert Alzolay, Keegan Thompson and Adrian Sampson are best utilized as starters or multi-inning relievers. Behind that group, Chicago also has rookies Hayden Wesneski and Javier Assad, who impressed down the stretch, with more prospects (names like Caleb Kilian, Ben Brown and Jordan Wicks, among others) waiting in the wings.

Smyly, 33, had a 3.47 ERA with 91 strikeouts and 26 walks in 22 starts (106 1/3 innings) overall last year for the Cubs. He missed all of June due to a right oblique strain and battled left shoulder fatigue in mid-September before a successful late-season return.

Following his activation from the injured list in July, Smyly spun a 3.25 ERA in 63 2/3 innings down the stretch. That included striking out nine in a memorable outing during the Field of Dreams game. The lefty had a 2.83 ERA in 11 starts in the second half, when the Cubs’ rotation ranked third in the Majors in ERA (2.89). Only the Astros (2.70) and Dodgers (2.73) were better after the All-Star break.

Smyly is entering his 10th MLB season, having posted a 4.10 ERA in 239 career appearances with seven clubs. Last year with the Cubs, he posted a 2.42 ERA in nine starts at Wrigley Field and finished the year in the 85th percentile in average exit veloxity (86.7 mph), per Statcast.