Sources told MLB.com that Britton's pact is a three-year deal averaging $13 million per season. The Yankees can opt out of the contract after the 2020 season if it does not exercise its option for the 2022 season. If he completes the full four years of his contract he will make $53 million.
The Yankees have yet to announce the signing.
Britton, 31, posted a 3.10 ERA and a 2-0 record with seven saves in 41 games last season for the Baltimore Orioles and Yankees. The two-time All-Star began the season in Baltimore before being traded to the Yankees in July.
The left-handed reliever had a 2.88 ERA and three saves in 25 games with the Yankees last season. He owns a 3.21 ERA and has 142 saves during his eight-year career. Britton led the American League with 47 saves in 2016 for the Orioles. He had an American League-high 121 games finished between the 2015 and 2016 seasons.