Nolan Arenado has agreed to a one-year, $26 million deal with the Colorado Rockies.

The contract sets a record for a one-year salary for an arbitration-eligible player.

"It feels good to have things settled," Arenado told the Associated Press. "I think it's good to have less things in the back of your mind and this is one of them. It's [a] great day -- great mutual respect between me, my agency and the club."

Over his past four seasons, Arenado's 158 home runs rank third in the Major Leagues and his 503 RBIs first.