Multiple media reports Sunday said Holiday would be heading from St. Louis to the Bronx. According to the New York Post, Holliday will serve as the Yankees' designated hitter and also fill in at first base.
Holiday, who turns 37 next month, missed seven weeks last season with a fractured thumb. He hit .246 with 20 homers and 62 RBIs in 110 games.
Holliday, who spent the last seven seasons in St. Louis, is a career .303 hitter with 295 homers and 1,153 RBIs in 13 seasons. He is a seven-time All-Star.
A 1998 seventh-round draft pick of the Rockies, Holliday spent major league five seasons in Colorado before he was traded to the A's in a November 2008 deal that sent Carlos Gonzalez and Huston Street to Denver.
In 2007, Holliday won the National League batting title with a .340 average, and he led the league with 216 hits, 386 total bases, 50 doubles and 92 extra-base hits. He finished as runner-up in NL MVP voting behind the Philadelphia Phillies' Jimmy Rollins.
Holliday signed a seven-year, $120 million free agent deal with St. Louis in January 2010. The Cardinals declined his $17 million option for 2018 last month.