San Diego and Toronto announced the swap on Sunday. Richard, 35, posted a 5.33 ERA and a 7-11 record in 27 starts last season for the Padres. The 10-year veteran won eight games in 2017, but also had a National League-high 15 losses in 32 starts. Richard also allowed 240 hits in 2017, the most in Major League Baseball.
The Blue Jays also received cash considerations from the Padres and sent Minor League outfielder Connor Panas to San Diego in the swap. Toronto designated right-handed pitcher Oliver Drake for assignment to make room on the 40-man roster.
Panas, 25, posted a .232 average with 16 doubles, two triples, nine home runs and 39 RBIs in 105 games for Double-A New Hampshire last season.
Richard is due to make $3 million next season and can become a free agent in 2020. He owns a career 4.46 ERA and a 68-79 record in 265 appearances. Richard has also pitched for the Chicago White Sox and Chicago Cubs.