Houston also picked up the option of outfielder/infielder Marwin Gonzalez.
Altuve will make $6 million next season as part of an extension he signed in 2013. He won his third batting title in four years this season when he hit .346 with 24 homers and 81 RBIs.
Houston also holds a club option for 2019 on Altuve at $6.5 million.
Gonzalez will make $5.125 million next season. He batted .303 with 23 homers and 90 RBIs in 2017.
Also, Houston is in the process of hiring Joe Espada away from the New York Yankees to be the team's new bench coach. Espada was the Yankees' third-base coach.