Reyes, who had been eligible for arbitration, will receive $500,000 plus incentives.

"Carlos is a durable arm, veteran arm," Phillies assistant general manager Ruben Amaro Jr. said. "He's a guy who throws strikes and someone who'll give us more stability in our bullpen."

Reyes was 2-4 with a 3.72 ERA and one save in 65 relief appearances for San Diego last season. The righthander also has pitched for the Boston Red Sox and Oakland Athletics.