Last season, Feldman went 17-8 with a 4.08 ERA in 31 starts for the Rangers and was named the Texas Rangers' Pitcher of the Year for 2009 by the Dallas-Fort Worth Chapter of the Baseball Writers' Association of America. He struck out 113 batters in 189 2/3 innings of work while walking only 65.
Originally, Feldman filed for $2.9 million, while the Rangers initially offered $2.05 million before the two sides came to an agreement. He was the final Rangers player who was eligible for arbitration.
Earlier this week, the Rangers agreed to a one-year deal with closer Frank Francisco to avoid an arbitration hearing. Francisco, who can be a free agent after the season, agreed to a $3,265,000 contract for 2010. He made $1,615,000 in 2009.
Jesse Sanchez is a national reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.