Springer, 31, had spent his entire seven-year career with the Astros. The three-time All-Star was part of Houston's 2017 World Series team and won World Series MVP. Springer hit .265 with 14 home runs and 32 RBIs in 51 games last season.
He has a .270 career average with 174 home runs in 795 games. Springer hit a career-high .292 with 39 home runs and 96 RBIs in 122 games in 2019.
Springer had been linked to the New York Mets before he agreed to sign with Toronto. Sources told MLB.com that the Mets' top offer for Springer was for six years and between $120 million and $125 million.