Cincinnati placed Weathers back on its 40-man roster, which now carries 39 players.
Weathers was rated as a Type B free agent. Had he declined arbitration and signed with another team, the Reds would have received a supplemental first-round Draft pick in June.
Last season, as a key setup man in the seventh and eighth innings, he was 4-6 with a 3.25 ERA in 72 relief appearances. It was his sixth consecutive season with at least 70 games pitched.
Two of Weathers' 15 inherited runners scored on him this season. He had a 2.45 ERA over his final 36 appearances. In 2007 as Cincinnati's closer, he saved 33 games.
Before the 2007 season, Weathers signed a two-year contract worth $5 million. He made $2.75 million in 2008 and stands to get a considerable increase through the arbitration process.
Mark Sheldon is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.