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Starting pitching has been a priority for the Giants this offseason, but they have been unable to land the big fish so far.
The Giants turned to a familiar face and agreed with Jake Peavy to a two-year contract on Thursday morning, according to multiple reports.
The deal is reportedly worth $24 million.
The deal was first reported by Fox Sports.
Peavy, 33, went 6-4 with a 2.17 ERA in 12 starts after he was acquired by the Giants last season. He was 1-9 with a 4.72 ERA in 20 starts with the Red Sox before the trade.
A three-time All-Star and the 2007 NL Cy Young Award winner, Peavy owns a 139-111 record and 3.53 ERA over a 13-year career.