The bonus is the largest of its kind, breaking the previous record of $8 million set by Gerrit Cole in 2011.
The first overall pick came with a slot value of $8.42 million, per MLB.com, leaving the Orioles the opportunity to spend the rest of the money on their other picks.
The team's second-round pick, Gunnar Henderson, signed an overslot deal worth $2.3 million, while third-round selection Zach Watson remains unsigned.
While this represents an important haul for a team desperate for talent, getting Rutschman signed was a must considering his overall talent.
"Adley Rutschman has everything scouts want in a catcher. He's a switch-hitter who's a monster at the plate, capable of hitting for plenty of average and power while drawing a ton of walks. Behind it, he has a strong arm, impressive receiving and blocking skills—plus leadership ability off the charts."
He is coming off a dominant season for Oregon State, hitting .411 with a .575 on-base percentage and adding 17 home runs in 57 games. He earned 76 walks while only striking out 38 times as one of the most feared players in college baseball.
With an advanced skill set, Rutschman has a chance to rise quickly through the minor leagues and make a positive impact for the Orioles before too long.