Hot stove season is around the corner.
The 2025 MLB season has reached its final stage, as the reigning champion Los Angeles Dodgers battle the American League’s top-seeded Toronto Blue Jays for the World Series championship. And once this year’s champion is decided, the chase for the 2026 title will be on.
Free agency will be fully underway less than a week after the Fall Classic ends. Philadelphia Phillies slugger Kyle Schwarber, coming off a 56-homer campaign, is the headliner of this offseason’s free agent class, but he’s far from the only big name set to hit the open market.
Houston Astros pitcher Framber Valdez, Chicago Cubs outfielder Kyle Tucker and Blue Jays shortstop Bo Bichette are also looking for new deals. The free agent class could also be boosted by players whose options aren’t picked up.
So, from the top players who could be available to how the qualifying offer works and more, here’s everything you need to know about MLB free agency:
When does MLB free agency start?
Players scheduled to hit free agency will officially become free agents the day after the World Series ends. At that time, teams are able to re-sign their departing free agents.
But players can’t sign with a new club until 5 p.m. ET on the fifth day after the World Series ends.
When is the MLB option deadline?
The exercising of a player, club or mutual option must occur within five days following the conclusion of the World Series.
What is a qualifying offer in MLB?
Teams have five days after the World Series to extend qualifying offers to their departing free agents. A team can only extend a qualifying offer to a player who hasn’t received one before and spent the entire 2025 season on its roster.
The qualifying offer is a one-year deal with a value equal to the mean salary of MLB’s 125 highest-paid players, and a player has until 4 p.m. ET on Nov. 18 to accept it.
Should a player reject the qualifying offer and then sign with a new club in free agency, the team who lost the free agent will receive a compensatory draft pick. A club that signs a rival player who rejected a qualifying offer is subject to the loss of at least one draft pick.
How much is the MLB qualifying offer worth?
This year’s qualifying offer is worth $22.025 million.
Who are the top 2026 MLB free agents?
Here’s a look at the top players who could hit free agency (listed alphabetically by last name, all contract details via Spotrac):
Ozzie Albies, 2B, Atlanta Braves
Age: 28
2025 stats: 157 games, .240/.306/.365 slash line, 16 HR, 74 RBI, 14 SB
Previous average annual salary: $5 million
Status: Club option for 1 year, $7 million with $4 million buyout (followed by $7 million club option in 2027)
Pete Alonso, 1B, New York Mets
Age: 30 (turns 31 in December)
2025 stats: 162 games, .272/.347/.524 slash line, 38 HR, 126 RBI, 1 SB
Previous average annual salary: $27 million
Status: Player option for 1 year, $24 million
Pete Alonso is the Mets’ all-time home run leader with 264. (Jim Rassol-Imagn Images)
Luis Arráez, 2B/1B, San Diego Padres
Age: 28
2025 stats: 154 games, .292/.327/.392 slash line, 8 HR, 61 RBI, 11 SB
Previous average annual salary: $14 million
Status: Free agent
Harrison Bader, OF, Philadelphia Phillies
Age: 31
2025 stats: 146 games, .277/.347/.449 slash line, 17 HR, 54 RBI, 11 SB
Previous average annual salary: $6.25 million
Status: Mutual option for 1 year, $10 million with $3 million buyout
Chris Bassit, RHP, Toronto Blue Jays
Age: 36
2025 stats: 31 starts (32 appearances), 170.1 IP, 3.96 ERA, 1.327 WHIP, 166 SO, 52 BB
Previous average annual salary: $21 million
Status: Free agent
Josh Bell, 1B, Washington Nationals
Age: 33
2025 stats: 140 games, .239/.326/.421 slash line, 22 HR, 63 RBI, 0 SB
Previous average annual salary: $6 million
Status: Free agent
Cody Bellinger, OF, New York Yankees
Age: 30
2025 stats: 152 games, .272/.334/.480 slash line, 29 HR, 98 RBI, 13 SB
Previous average annual salary: $26.66 million
Status: Free agent
Bo Bichette, SS, Toronto Blue Jays
Age: 27
2025 stats: 139 games, .311/.357/.483 slash line, 18 HR, 94 RBI, 4 SB
Previous average annual salary: $11.2 million
Status: Free agent
Two-time All-Star Bo Bichette rebounded from a down 2024 season where he posted a .598 OPS in 81 games. (Dan Hamilton-Imagn Images)
Shane Bieber, RHP, Toronto Blue Jays
Age: 30
2025 stats: 7 starts, 40.1 IP, 3.57 ERA, 1.017 WHIP, 37 SO, 7 BB
Previous average annual salary: $13 million
Status: Player option for 1 year, $16 million with $4 million buyout
Alex Bregman, 3B, Boston Red Sox
Age: 31
2025 stats: 114 games, .273/.360/.462 slash line, 18 HR, 62 RBI, 1 SB
Previous average annual salary: $40 million
Status: Player option for 2 years, $80 million
Dylan Cease, RHP, San Diego Padres
Age: 29 (turns 30 in December)
2025 stats: 32 starts, 168 IP, 4.55 ERA, 1.327 WHIP, 215 SO, 71 BB
Previous average annual salary: $13.75 million
Status: Free agent
Edwin Díaz, RHP, New York Mets
Age: 31
2025 stats: 62 appearances, 66.1 IP, 1.63 ERA, 0.874 WHIP, 98 SO, 21 BB, 28-for-31 in save chances
Previous average annual salary: $20.4 million
Status: Player option for 2 years, $37 million (followed by $17.25 million club option in 2028 with $1 million buyout)
Pete Fairbanks, RHP, Tampa Bay Rays
Age: 31 (turns 32 in December)
2025 stats: 61 appearances, 60.1 IP, 2.83 ERA, 1.044 WHIP, 59 SO, 18 BB, 27-for-32 in save chances
Previous average annual salary: $4 million
Status: Club option for 1 year, $12.5 million with $1 million buyout
Jack Flaherty, RHP, Detroit Tigers
Age: 30
2025 stats: 31 starts, 161 IP, 4.64 ERA, 1.280 WHIP, 188 SO, 59 BB
Previous average annual salary: $17.5 million
Status: Player option for 1 year, $20 million
Zac Gallen, RHP, Arizona Diamondbacks
Age: 30
2025 stats: 33 starts, 192 IP, 4.83 ERA, 1.260 WHIP, 175 SO, 66 BB
Previous average annual salary: $13.8 million
Status: Free agent
Lucas Giolito, RHP, Boston Red Sox
Age: 31
2025 stats: 26 starts, 145 IP, 3.41 ERA, 1.290 WHIP, 121 SO, 56 BB
Previous average annual salary: $19.25 million
Status: Mutual option for 1 year, $19 million with $1.5 million buyout
Trent Grisham, OF, New York Yankees
Age: 28 (turns 29 in November)
2025 stats: 143 games, .235/.348/.464 slash line, 34 HR, 74 RBI, 3 SB
Previous average annual salary: $5 million
Status: Free agent
Trent Grisham doubled his previous single-season high with 34 homers in 2025. (Brad Penner-Imagn Images)
Lourdes Gurriel Jr., OF, Arizona Diamondbacks
Age: 32
2025 stats: 129 games, .248/.295/.418 slash line, 19 HR, 80 RBI, 10 SB
Previous average annual salary: $14 million
Status: Player option for 1 year, $13 million (followed by $14 million club option in 2026 with $5 million buyout)
Ryan Helsley, RHP, New York Mets
Age: 31
2025 stats: 58 appearances, 56 IP, 4.50 ERA, 1.536 WHIP, 63 SO, 25 BB, 21-for-30 in save chances
Previous average annual salary: $8.2 million
Status: Free agent
Rhys Hoskins, 1B, Milwaukee Brewers
Age: 32
2025 stats: 90 games, .237/.332/.416 slash line, 12 HR, 43 RBI, 2 SB
Previous average annual salary: $17 million
Status: Mutual option for 1 year, $18 million with $4 million buyouy
Shota Imanaga, LHP, Chicago Cubs
Age: 32
2025 stats: 25 starts, 144.2 IP, 3.73 ERA, 0.988 WHIP, 117 SO, 26 BB
Previous average annual salary: $13.25 million
Status: Club option for 3 years, $57 million (if declined, Imanaga receives player option for 1 year, $15 million)
Kenley Jansen, RHP, Los Angeles Angels
Age: 38
2025 stats: 62 appearances, 59 IP, 2.59 ERA, 0.949 WHIP, 57 SO, 19 BB, 29-for-30 in save chances
Previous average annual salary: $10 million
Status: Free agent
Merrill Kelly, RHP, Texas Rangers
Age: 37
2025 stats: 32 starts, 184 IP, 3.52 ERA, 1.114 WHIP, 167 SO, 48 BB
Previous average annual salary: $9 million
Status: Free agent
Michael King, RHP, San Diego Padres
Age: 30
2025 stats: 15 starts, 73.1 IP, 3.44 ERA, 1.200 WHIP, 76 SO, 26 BB
Previous average annual salary: $7.75 million
Status: Mutual option for 1 year, $15 million with $3.75 million buyout
Michael King was a full-time starter for a second straight season in 2025. (Patrick Gorski-Imagn Images)
Ramón Laureano, OF, San Diego Padres
Age: 31
2025 stats: 132 games, .281/.342/.512 slash line, 24 HR, 76 RBI, 7 SB
Previous average annual salary: $4 million
Status: Club option for 1 year, $6.5 million
Brandon Lowe, 2B/OF, Tampa Bay Rays
Age: 31
2025 stats: 134 games, .256/.307/.477 slash line, 31 HR, 83 RBI, 3 SB
Previous average annual salary: $4 million
Status: Club option for 1 year, $11.5 million with $1 million buyout
Nick Martinez, RHP, Cincinnati Reds
Age: 35
2025 stats: 40 appearances (26 starts), 165.2 IP, 4.45 ERA, 1.207 WHIP, 116 SO, 42 BB
Previous average annual salary: $21.05 million
Status: Free agent
Yoan Moncada, 3B, Los Angeles Angels
Age: 30
2025 stats: 84 games, .234/.336/.448 slash line, 12 HR, 35 RBI, 0 SB
Previous average annual salary: $14 million
Status: Free agent
Max Muncy, 3B, Los Angeles Dodgers
Age: 35
2025 stats: 100 games, .243/.376/.470 slash line, 19 HR, 67 RBI, 4 SB
Previous average annual salary: $12 million
Status: Club option for 1 year, $10 million
Andrés Muñoz, RHP, Seattle Mariners
Age: 26
2025 stats: 64 games, 62.1 IP, 1.73 ERA, 1.027 WHIP, 83 SO, 28 BB, 38-for-45 in save chances
Previous average annual salary: $1.87 million
Status: Club option for 1 year, $7 million (followed by club options for $8 million in 2027 and for $10 million in 2028)
Josh Naylor, 1B, Seattle Mariners
Age: 28
2025 stats: 147 games, .295/.353/.462 slash line, 20 HR, 92 RBI, 30 SB
Previous average annual salary: $14.2 million
Status: Free agent
Josh Naylor, a trade deadline pickup from Arizona, hit three homers with a .967 OPS across 12 games in the 2025 playoffs. (Nick Turchiaro-Imagn Images)
Ryan O’Hearn, 1B/OF, San Diego Padres
Age: 32
2025 stats: 144 games, .281/.366/.437 slash line, 17 HR, 63 RBI, 3 SB
Previous average annual salary: $3.5 million
Status: Free agent
Marcell Ozuna, DH, Atlanta Braves
Age: 34 (turns 35 in November)
2025 stats: 145 games, .232/.355/.400 slash line, 21 HR, 68 RBI, 0 SB
Previous average annual salary: $16.25 million
Status: Free agent
Emilio Pagán, RHP, Cincinnati Reds
Age: 34
2025 stats: 70 appearances, 68.2 IP, 2.88 ERA, 0.917 WHIP, 81 SO, 22 BB, 32-for-38 in save chances
Previous average annual salary: $8 million
Status: Free agent
Freddy Peralta, RHP, Milwaukee Brewers
Age: 29
2025 stats: 33 starts, 176.2 IP, 2.70 ERA, 1.075 WHIP, 204 SO, 66 BB
Previous average annual salary: $3.1 million
Status: Club option for 1 year, $8 million
Salvador Perez, C, Kansas City Royals
Age: 35
2025 stats: 155 games, .236/.284/.446 slash line, 30 HR, 100 RBI, 0 SB
Previous average annual salary: $20.5 million
Status: Club option for 1 year, $13.5 million with $2 million buyout
Salvador Perez, a nine-time All-Star and five-time Gold Glove winner, has spent his entire career with the Royals. (Jayne Kamin-Oncea-Imagn Images)
Jorge Polanco, INF, Seattle Mariners
Age: 32
2025 stats: 138 games, .265/.326/.495 slash line, 26 HR, 78 RBI, 6 SB
Previous average annual salary: $7.75 million
Status: Player option for 1 year, $8 million
Jose Quintana, LHP, Milwaukee Brewers
Age: 36
2025 stats: 24 starts, 131.2 IP, 3.96 ERA, 1.291 WHIP, 89 SO, 50 BB
Previous average annual salary: $4 million
Status: Mutual option for 1 year, $15 million with $2 million buyout
J.T. Realmuto, C, Philadelphia Phillies
Age: 34
2025 stats: 134 games, .257/.315/.384 slash line, 12 HR, 52 RBI, 8 SB
Previous average annual salary: $23.1 million
Status: Free agent
Luis Robert Jr., OF, Chicago White Sox
Age: 28
2025 stats: 110 games, .223/.297/.364 slash line, 14 HR, 53 RBI, 33 SB
Previous average annual salary: $8.33 million
Status: Club option for 1 year, $20 million with $2 million buyout (followed by $20 million club option in 2027 with $2 million buyout)
Chris Sale, LHP, Atlanta Braves
Age: 36
2025 stats: 20 starts (21 appearances), 125.2 IP, 2.58 ERA, 1.066 WHIP, 165 SO, 32 BB
Previous average annual salary: $19 million
Status: Club option for 1 year, $18 million
Max Scherzer, RHP, Toronto Blue Jays
Age: 41
2025 stats: 17 starts, 85 IP, 5.19 ERA, 1.294 WHIP, 82 SO, 23 BB
Previous average annual salary: $15.5 million
Status: Free agent
Kyle Schwarber, DH, Philadelphia Phillies
Age: 32
2025 stats: 162 games, .240/.365/.563 slash line, 56 HR, 132 RBI, 10 SB
Previous average annual salary: $19.75 million
Status: Free agent
Trevor Story, SS, Boston Red Sox
Age: 32 (turns 33 in November)
2025 stats: 157 games, .263/.308/.433 slash line, 25 HR, 96 RBI, 31 SB
Previous average annual salary: $23.33 million
Status: Player option for 2 years, $50 million (followed by $25 million club option in 2028 with $5 million buyout)
Eugenio Suárez, 3B, Seattle Mariners
Age: 34
2025 stats: 159 games, .228/.298/.526 slash line, 49 HR, 118 RBI, 4 SB
Previous average annual salary: $9.42 million
Status: Free agent
Eugenio Suárez matched his single-season career best with 49 homers while driving in a career-high 118 runs. (John E. Sokolowski-Imagn Images)
Ranger Suárez, LHP, Philadelphia Phillies
Age: 30
2025 stats: 26 starts, 157.1 IP, 3.20 ERA, 1.220 WHIP, 151 SO, 38 BB
Previous average annual salary: $11.3 million
Status: Free agent
Robert Suarez, RHP, San Diego Padres
Age: 34
2025 stats: 70 appearances, 69.2 IP, 2.97 ERA, 0.904 WHIP, 75 SO, 16 BB, 40-for-45 in save chances
Previous average annual salary: $9.2 million
Status: Player option for 2 years, $16 million
Gleyber Torres, 2B/SS, Detroit Tigers
Age: 28 (turns 29 in December)
2025 stats: 145 games, .256/.358/.387 slash line, 16 HR, 74 RBI, 4 SB
Previous average annual salary: $15 million
Status: Free agent
Kyle Tucker, OF, Chicago Cubs
Age: 28
2025 stats: 136 games, .266/.377/.464 slash line, 22 HR, 73 RBI, 25 SB
Previous average annual salary: $16.7 million
Status: Free agent
Framber Valdez, LHP, Houston Astros
Age: 31 (turns 32 in November)
2025 stats: 31 starts, 192 IP, 3.66 ERA, 1.245 WHIP, 187 SO, 68 BB
Previous average annual salary: $18.8 million
Status: Free agent
Justin Verlander, RHP, San Francisco Giants
Age: 42
2025 stats: 29 starts, 152 IP, 3.85 ERA, 1.362 WHIP, 137 SO, 52 BB
Previous average annual salary: $15 million
Status: Free agent
Devin Williams, RHP, New York Yankees
Age: 31
2025 stats: 67 games, 62 IP, 4.79 ERA, 1.129 WHIP, 90 SO, 25 BB, 18-for-22 in save chances
Previous average annual salary: $7.25 million
Status: Free agent
Brandon Woodruff, RHP, Milwaukee Brewers
Age: 32
2025 stats: 12 starts, 64.2 IP, 3.20 ERA, 0.912 WHIP, 83 SO, 14 BB
Previous average annual salary: $8.75 million
Status: Mutual option for 1 year, $20 million with $10 million buyout
After missing all of 2024, Brandon Woodruff returned mid-season from shoulder surgery. (Charles LeClaire-Imagn Images)
Mike Yastrzemski, OF, Kansas City Royals
Age: 35
2025 stats: 146 games, .233/.333/.403 slash line, 17 HR, 46 RBI, 7 SB
Previous average annual salary: $9.25 million
Status: Free agent