BOSTON -- Mitch Moreland is returning for his fourth season with the Red Sox, the club announced on Tuesday. A source told MLB.com's Mark Feinsand that the one-year deal is worth $2.5 million and includes a $3 million club option for 2021 or a $500,000 buyout, guaranteeing Moreland $3 million total in the deal.

Right-hander Denyi Reyes was designated for assignment to make room for Moreland on the 40-man roster.

Moreland hit .252 with 58 RBIs and 19 home runs over 91 games last season. In spite of missing time because of injuries, he set career highs in OPS (.835) and slugging percentage (.507). His 15.7 at-bats per home run and 5.1 at-bats per RBI ranked first on the team. The 34-year-old’s lefty bat can complement the Red Sox’s right-handed options of Michael Chavis and Bobby Dalbec -- ranked by MLB Pipeline as Boston's No. 2 prospect -- at first.

A respected veteran in the clubhouse, Moreland came through for the Red Sox during the 2018 World Series. He batted .294 and delivered a key three-run home run late in Game 4 to boost Boston in a comeback victory at Dodger Stadium.

Moreland has hit .247 with 205 RBIs, 56 home runs and a .782 OPS over his first three seasons on the Red Sox.

Last season, Moreland won the BoSox Club’s 2019 Man of the Year Award to recognize his cooperation with the Red Sox’s community endeavors and his role in the team’s success.

Moreland will be entering his 11th Major League season, having played his first seven years with the Rangers.