Details are not available yet, Topkin said, but the deal is reportedly worth $6 million over two years. There is also reportedly a $2.5 million option for 2015.
Peralta, 36, has been the Rays' set-up man for the last two seasons. In 2012, Peralta had a 3.63 ERA in 67 innings. He struck out 84 and walked 17.
His 2011 season -- his first with the Rays -- was even better. He finished the year with a 2.93 ERA in 67.2 innings of work. He struck out 61 and recorded a 0.91 WHIP.
The Rays went 90-72 last season and finished third in the American League East. They did not make the playoffs.