The person spoke to The Associated Press on condition of anonymity Tuesday because the deal was pending a physical.
It’s the latest big move by new Giants President of Baseball Operations Buster Posey since he was hired in September to replace Farhan Zaidi.
San Francisco also signed free agent shortstop Willy Adames to a $182 million, seven-year contract in December.
This will be the 20th major league season for Verlander, a three-time AL Cy Young Award winner who turns 42 next month. He would join a Giants rotation led by Logan Webb.
Verlander went 5-6 with a 5.48 ERA in 17 starts for the Houston Astros last year. He opened the season on the injured list with shoulder inflammation. He also was on the IL from June 18 to Aug. 21 because of neck discomfort.
The right-hander had a 9.26 ERA in five September starts and was left off Houston’s postseason roster when the team was swept by Detroit in an AL Wild Card Series. He became a free agent after he failed to pitch 140 innings, a total that would have triggered his ability to exercise a $35 million conditional player option.
