The deal also reportedly includes incentives.
Max Wildstein of Sporting News provided his thoughts on the deal:
Granderson, 36, split his 2017 season between the New York Mets and Los Angeles Dodgers, hitting .212 with a .775 OPS, 26 homers and 64 RBI. It was his 10th season in the last 11 with 20 or more home runs.
He was traded to the Dodgers in August and offered a mixed bag in his 36 regular-season games with the team, hitting just .161 but belting seven homers and recording 12 RBI.
Given L.A.'s depth in the outfield, however, the team ultimately decided against re-signing Granderson.
While the veteran outfielder isn't going to hit for a high average or get on base at an efficient clip, he still provides plenty of pop at the plate and a veteran presence in the clubhouse. Granderson's reached the postseason seven times, so his experience will be valued in Toronto.
If nothing else, Granderson offers the Blue Jays a platoon outfielder who can step into the lineup against right-handed pitchers. But given his consistent power, he'll likely see plenty of action this season.