Benoit, who recently turned 39, has been a strong setup man for most of his career. His 0.98 WHIP over the past seven seasons trails only Kenley Jansen (0.89) and Craig Kimbrel (0.95) among relievers.
Benoit was 3-1 with a 2.81 ERA while splitting time between the Seattle Mariners and Toronto Blue Jays last season. He posted a stellar 0.38 ERA in 25 appearances for Toronto after being acquired in late July.
Benoit has recorded 51 saves during a career that began in 2001 but the Phillies plan to keep him in a set-up type role.
"I think one of things that as appealing to us about Joaquin is he has pitched the sixth, he's pitched the seventh, he's pitched the eighth, he's pitched the ninth, and he's been good in all of those roles at various times throughout his career," Philadelphia general manager Matt Klentak told reporters. "We feel better today than we did a few days ago that we have several players in our bullpen that can compete for the ninth, the eighth, the seventh, the sixth. We made our bullpen better."
Benoit's career includes stops with the Texas Rangers, Tampa Bay Rays, Detroit Tigers and San Diego Padres in addition to last season's time with Seattle and Toronto. He has compiled a 57-43 record and 3.79 ERA in 712 appearances (55 starts).