Financial terms of the reported deal weren't disclosed, however, according to MLB Network's Jon Heyman, Moustakas will make $10 million in 2019 with a mutual option for 2020. The dollar amount was first reported by Bob Nightengale of USA TODAY Sports.
Moustakas declined a $15-million mutual option at the end of the season to become a free agent.
He reportedly preferred to stay in Milwaukee after a postseason run, and realization of an obvious fit. There were multi-year offers on the table to play elsewhere, according to Heyman.
Brewers players reacted to the reported news on Sunday, including 2018 NL MVP Christian Yelich.
Moustakas will likely spend a lot of time at third in 2019 with Travis Shaw moving to second base, however, that's not set in stone with the team's infield depth and flexibility, according to Tom Haudricourt of the Milwaukee Journal Sentinel.
The 30-year-old helped the Brewers win the NL Central for only the second time in franchise history after being acquired from the Kansas City Royals in July. Milwaukee came within one win of the World Series after losing to the Los Angeles Dodgers in seven games in the NLCS.
Moustakas slashed a combined .251/.315/.459 with 28 home runs and 95 RBIs across 156 games with the Royals and Brewers in 2018.