The Angels are still looking for a starting pitcher and are believed ready to bid on Japanese star Masahiro Tanaka if he is posted. They also are interested in free-agent right-hander Matt Garza.
Ibanez slugged 29 home runs with a .249 average and 65 RBIs in his third stint with Seattle in 2013, when he earned $2.75 million, the same reported amount as his Angels deal, which is said to include incentives that could push the total value to $5 million.
Ibanez was an All-Star in 2009 with Philadelphia.
Ken Gurnick is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.