The pact reportedly includes a $6-million club option and a $500,000 buyout.
Perez confirmed his return to the Red Sox on Twitter:
Boston declined Perez's $6.85-million option for 2021 in early November.
Perez posted a 4.50 ERA with a 1.33 WHIP in 12 starts for the Red Sox last season.
The 29-year-old owns a career 4.71 ERA across nine years in the majors with the Red Sox, Minnesota Twins, and Texas Rangers.