Wood agreed to a two-year, $12 million deal with the team Monday, according to MLB.com. The team has yet to confirm the deal, which is pending a physical.
The 30-year-old made his big league debut in 2010 with the Cincinnati Reds. He was traded to the Chicago Cubs in 2011, before hitting free agency this offseason. Wood, who made $6.1 million last season, held a 3.94 ERA and 32-42 record in five seasons for the Cubs. He was a National League All-Star in 2013.
If Wood doesn't catch on in the rotation, he could transition back to the bullpen. In 77 appearances last season he had a 2.95 ERA and 4-0 record for the Cubs. He will be competing with Nathan Karns and Matt Strahm for the final spot in the Royals' rotation.