The Reds have agreed to a one-year, $3.06 million contract with Mike Leake.
The agreement allows the two sides to avoid arbitration.
Leake made $507,500 last season, when he went 8-9 with a 4.58 ERA in career-high 30 starts.
Cincinnati still has three starters facing arbitration: Mat Latos, Homer Bailey and Shin-Soo Choo.