After a breakout season with the Reds, Nick Martinez accepted the qualifying offer and will be back with the team for 2025, a source told MLB.com's Mark Feinsand. The team has not confirmed.

By accepting the QO, Martinez will make $21.05 million in Cincinnati next season. Martinez was one of 13 players who received the one-year qualifying offer this offseason. The deadline to accept or decline it is 4 p.m. ET on Tuesday.

Martinez, 34, enjoyed his most productive season in the Majors this year, producing a 3.10 ERA over a career-high 142 1/3 innings. He made 42 appearances for the Reds, including 16 starts. Martinez’s 20.4% strikeout rate was below the league average, but he initiated a lot of soft contact, ranking in the 96th percentile in hard-hit rate and the 88th percentile in barrel rate. He walked just 3.2% of the batters he faced, the third-lowest rate among pitchers who threw at least 100 innings last season. He also finished the year strong, posting an 0.83 ERA over his final five starts.

Martinez signed a two-year, $26 million deal with the Reds prior to the 2024 season. The deal contained an opt-out clause that he exercised after the season. Had Martinez opted in with the Reds, he would have made $12 million in 2025.

An 18th-round Draft pick by the Rangers in 2011, Martinez debuted with Texas in 2014 and has pitched in seven MLB seasons split between the Rangers, Padres and Reds. He also pitched in Japan from 2018-21. Since returning to MLB in 2022, he has a 3.31 ERA with 317 strikeouts and a 1.18 WHIP over 359 innings.