Straily will be pitching for his fifth club in six years when he joins the Reds, who received right-handed pitching prospects Luis Castillo and Austin Brice along with outfielder Isaiah White in the deal.
Straily recorded a 14-8 mark with a 3.76 ERA in 34 games last season after being selected off waivers from San Diego Padres prior to Opening Day. The 34-year-old led Cincinnati in wins, innings pitched (191 1/3) and strikeouts (62) but also tied for the National League lead in homers allowed (31).
Castillo, 24, posted an 8-6 mark with a 2.26 ERA and 103 strikeouts over 24 starts last season while splitting his time between Class-A Advanced and Double-A. He was the top-ranked pitching prospect in the organization according to Baseball Prospectus.
Brice struggled in 15 relief appearances with the Marlins last season, recording a bloated 7.07 ERA in 14 innings. The 24-year-old fared better during his time in Double-A and Triple-A last year, posting a 4-7 mark, 2.74 ERA and 1.10 WHIP in 32 games.
The 20-year-old White, who was a third-round pick in the 2015 draft, batted .214 in low-A ball last year.