Sources told MLB.com and SNY the deal is worth $137.5 million and includes an option for a sixth year. The deal covers 2019 through 2023 and has an opt-out clause after 2022. The option year is in 2024.
DeGrom, 30, posted a Major League Baseball-best 1.70 ERA and a 10-9 record in 32 starts in 2018 for the Mets. The right-handed starter also led the league in home runs per nine innings and had the best ERA+ in the National League.
The two-time All-Star also threw a career-high 269 strikeouts. DeGrom is set to make $17 million in 2019.
The deal is pending a physical. The Mets have yet to confirm the pact, but did tweet a smiling emoji following Tuesday's news.
DeGrom will start for the Mets on opening day against the Washington Nationals at 1:05 p.m. Thursday at Nationals Park in Washington, D.C.