The San Francisco Giants and reigning NL Cy Young Award winner Blake Snell have agreed to a two-year contract worth $62million, multiple media outlets reported Monday.

Snell will reportedly have the ability to opt out of the deal after one season and become a free agent again.

The left-hander won his second career Cy Young last season with the San Diego Padres after going 14-9 with a league-leading 2.25 ERA.

Snell, 31, won the AL Cy Young in 2018 after going 21-5 with a 1.89 ERA for the Tampa Bay Rays.

Singing Snell is the latest move in a busy offseason for the Giants as they try to catch up with their biggest rival, the Los Angeles Dodgers, in the NL West.

Earlier this offseason, the Giants spent over $250million in free agency to acquire South Korean outfielder Jung Hoo Lee, third baseman Matt Chapman, right-hander Jordan Hicks and slugging outfielder Jorge Soler.

In January, San Francisco traded for left-handed starter Robbie Ray, who is recovering from Tommy John surgery and could pitch later in 2024.

In 191 career starts, Snell is 71-55 with a 3.20 ERA and has 1,223 strikeouts in 992.2 innings pitched.