The deal is worth $15.5 million guaranteed and includes two club options.Peralta was 7-3 with a 5.29 ERA in 39 appearances (eight starts) for the Brewers in 2019, when he made $564,600.
The 23-year-old Dominican is 13-7 in 55 career appearances with a 4.79 ERA, 211 strikeouts and 77 walks.