The well-traveled Soriano has been with four teams since 2010, most recently the Chicago Cubs in 2015, when he allowed four earned runs in just 5.2 innings pitched.
His best season came in 2010 with the Tampa Bay Rays when he earned his only All-Star bid after a 45-save season. He also saved 117 games between 2012 and 2014 with the New York Yankees and Washington Nationals.
Jon Heyman of MLB Network noted Soriano will earn $750k this season if he can work his way onto the Jays' major league roster.
Although he is eighth among active closers in career saves, per TSN.ca, the 36-year-old's best days are behind him. However, Bob Nightengale of USA Today thinks he can serve a purpose for Toronto:
The #Bluejays sign former closer Rafael Soriano to strengthen back end of bullpen— Bob Nightengale (@BNightengale) February 28, 2016
Toronto had the 12th-best ERA in 2015 at 3.80 but ranked 23rd in blown saves with 22. Blue Jays fans shouldn't expect much from Soriano, but if he can work his way onto the roster and eat up some middle-to-late innings down the stretch, he could be a great bargain considering his cheap salary.
All stats courtesy of ESPN.com unless otherwise noted.