Severino, 25, posted a 3.39 ERA and a 19-8 record in 32 starts in 2018. The two-time All-Star had a 14-6 record with a 2.98 ERA in 31 starts in 2017. Severino owns a career ERA of 3.51 in four seasons with the Yankees.
Fellow Yankees starter CC Sabathia is expected to return in April. The veteran left-hander had an angioplasty in December and also had off-season knee surgery.