It will be Glavine's 18th season in an Atlanta uniform.
Glavine, who will be 43 when the season opens, spent the first 16 years of his career with Atlanta -- leading the Braves to five World Series appearances. He then pitched five seasons with the New York Mets before returning to Atlanta last year.
An MLB.com report said Glavine's 2009 contract could reach $4.5 million if he can reach certain incentive levels. Only $1 million is guaranteed.
Glavine has won two Cy Young Awards and been a member of 10 all-star teams. He appeared in only 13 games last season while battling elbow problems.
His 305 victories puts him fourth all-time among left-handers behind Warren Spahn (363), Steve Carlton (329) and Eddie Plank (326).