Omar Vizquel will remain in San Francisco for his 20th season.
The Giants on Friday re-signed the shortstop to a one-year contract with a club option for 2009.
Financial terms of the deal were not disclosed, but the San Francisco Chronicle has reported that Vizquel could make $5.5 million in 2008.
The paper also reported that the team option is worth $5.2 million and would become guaranteed when the 40-year-old plays in 140 games next season.
Giants Re-Sign Vizquel To One-Year Deal, With Club Option For 2009