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Hot stove season is here.

The 2025 MLB season has ended after a thrilling conclusion, as the Los Angeles Dodgers successfully defended their crown by beating the Toronto Blue Jays for the 2025 World Series championship. Now, the chase for the 2026 title is on.

Free agency will be fully underway soon now that the Fall Classic has ended. Philadelphia Phillies slugger Kyle Schwarber, coming off a 56-homer campaign, is the headliner of this offseason’s free agent class, but he’s far from the only big name set to hit the open market.

Houston Astros pitcher Framber Valdez, Chicago Cubs outfielder Kyle Tucker and Blue Jays shortstop Bo Bichette are also looking for new deals. The free agent class could also be boosted by players whose options aren’t picked up.

So, from the top players who could be available to how the qualifying offer works and more, here’s everything you need to know about MLB free agency:

When does MLB free agency start?

Players scheduled to hit free agency officially became free agents the day after the World Series ended. At that time, teams were able to re-sign their departing free agents.

But players can’t sign with a new club until 5 p.m. ET on the fifth day after the World Series ends.

When is the MLB option deadline?

The exercising of a player, club or mutual option must occur within five days following the conclusion of the World Series.

What is a qualifying offer in MLB?

Teams have five days after the World Series to extend qualifying offers to their departing free agents. A team can only extend a qualifying offer to a player who hasn’t received one before and spent the entire 2025 season on its roster.

The qualifying offer is a one-year deal with a value equal to the mean salary of MLB’s 125 highest-paid players, and a player has until 4 p.m. ET on Nov. 18 to accept it.

Should a player reject the qualifying offer and then sign with a new club in free agency, the team who lost the free agent will receive a compensatory draft pick. A club that signs a rival player who rejected a qualifying offer is subject to the loss of at least one draft pick.

How much is the MLB qualifying offer worth?

This year’s qualifying offer is worth $22.025 million.

Who are the top 2026 MLB free agents?

Here’s a look at the top players who could hit free agency (listed alphabetically by last name, all contract details via Spotrac):

Ozzie Albies, 2B, Atlanta Braves

• Age: 28
• 2025 stats: 157 games, .240/.306/.365 slash line, 16 HR, 74 RBI, 14 SB
• Previous average annual salary: $5 million
• Status: Club option for 1 year, $7 million with $4 million buyout (followed by $7 million club option in 2027)

Pete Alonso, 1B, New York Mets

• Age: 30 (turns 31 in December)
• 2025 stats: 162 games, .272/.347/.524 slash line, 38 HR, 126 RBI, 1 SB
• Previous average annual salary: $27 million
• Status: Free agent (declined player option for 1 year, $24 million)

Luis Arráez, 2B/1B, San Diego Padres

• Age: 28
• 2025 stats: 154 games, .292/.327/.392 slash line, 8 HR, 61 RBI, 11 SB
• Previous average annual salary: $14 million
• Status: Free agent

Harrison Bader, OF, Philadelphia Phillies

• Age: 31
• 2025 stats: 146 games, .277/.347/.449 slash line, 17 HR, 54 RBI, 11 SB
• Previous average annual salary: $6.25 million
• Status: Mutual option for 1 year, $10 million with $3 million buyout

Chris Bassit, RHP, Toronto Blue Jays

• Age: 36
• 2025 stats: 31 starts (32 appearances), 170.1 IP, 3.96 ERA, 1.327 WHIP, 166 SO, 52 BB
• Previous average annual salary: $21 million 
• Status: Free agent

Josh Bell, 1B, Washington Nationals

• Age: 33
• 2025 stats: 140 games, .239/.326/.421 slash line, 22 HR, 63 RBI, 0 SB
• Previous average annual salary: $6 million
• Status: Free agent

Cody Bellinger, OF, New York Yankees

• Age: 30
• 2025 stats: 152 games, .272/.334/.480 slash line, 29 HR, 98 RBI, 13 SB
• Previous average annual salary: $26.66 million
• Status: Free agent (declined player option for 1 year, $25 million)

Bo Bichette, SS, Toronto Blue Jays

• Age: 27
• 2025 stats: 139 games, .311/.357/.483 slash line, 18 HR, 94 RBI, 4 SB
• Previous average annual salary: $11.2 million
• Status: Free agent

Shane Bieber, RHP, Toronto Blue Jays

• Age: 30
• 2025 stats: 7 starts, 40.1 IP, 3.57 ERA, 1.017 WHIP, 37 SO, 7 BB
• Previous average annual salary: $13 million
• Status: Player option for 1 year, $16 million with $4 million buyout

Alex Bregman, 3B, Boston Red Sox

• Age: 31
• 2025 stats: 114 games, .273/.360/.462 slash line, 18 HR, 62 RBI, 1 SB
• Previous average annual salary: $40 million
• Status: Free agent (declined player option for 2 years, $80 million)

Dylan Cease, RHP, San Diego Padres

• Age: 29 (turns 30 in December)
• 2025 stats: 32 starts, 168 IP, 4.55 ERA, 1.327 WHIP, 215 SO, 71 BB
• Previous average annual salary: $13.75 million
• Status: Free agent

Edwin Díaz, RHP, New York Mets

• Age: 31
• 2025 stats: 62 appearances, 66.1 IP, 1.63 ERA, 0.874 WHIP, 98 SO, 21 BB, 28-for-31 in save chances
• Previous average annual salary: $20.4 million
• Status: Free agent (declined player option for 2 years, $37 million, followed by $17.25 million club option in 2028 with $1 million buyout)

Pete Fairbanks, RHP, Tampa Bay Rays

• Age: 31 (turns 32 in December)
• 2025 stats: 61 appearances, 60.1 IP, 2.83 ERA, 1.044 WHIP, 59 SO, 18 BB, 27-for-32 in save chances
• Previous average annual salary: $4 million
• Status: Club option for 1 year, $12.5 million with $1 million buyout

Jack Flaherty, RHP, Detroit Tigers

• Age: 30
• 2025 stats: 31 starts, 161 IP, 4.64 ERA, 1.280 WHIP, 188 SO, 59 BB
• Previous average annual salary: $17.5 million
• Status: Player option for 1 year, $20 million

Zac Gallen, RHP, Arizona Diamondbacks

• Age: 30
• 2025 stats: 33 starts, 192 IP, 4.83 ERA, 1.260 WHIP, 175 SO, 66 BB
• Previous average annual salary: $13.8 million
• Status: Free agent

Lucas Giolito, RHP, Boston Red Sox

• Age: 31
• 2025 stats: 26 starts, 145 IP, 3.41 ERA, 1.290 WHIP, 121 SO, 56 BB
• Previous average annual salary: $19.25 million
• Status: Free agent (Declined mutual option for 1 year, $19 million with $1.5 million buyout)

Trent Grisham, OF, New York Yankees

• Age: 28 (turns 29 in November)
• 2025 stats: 143 games, .235/.348/.464 slash line, 34 HR, 74 RBI, 3 SB
• Previous average annual salary: $5 million
• Status: Free agent

Lourdes Gurriel Jr., OF, Arizona Diamondbacks

• Age: 32
• 2025 stats: 129 games, .248/.295/.418 slash line, 19 HR, 80 RBI, 10 SB
• Previous average annual salary: $14 million
• Status: Exercised player option for 1 year, $13 million (followed by $14 million club option in 2027 with $5 million buyout)

Ryan Helsley, RHP, New York Mets

• Age: 31
• 2025 stats: 58 appearances, 56 IP, 4.50 ERA, 1.536 WHIP, 63 SO, 25 BB, 21-for-30 in save chances
• Previous average annual salary: $8.2 million
• Status: Free agent

Rhys Hoskins, 1B, Milwaukee Brewers

• Age: 32
• 2025 stats: 90 games, .237/.332/.416 slash line, 12 HR, 43 RBI, 2 SB
• Previous average annual salary: $17 million
• Status: Mutual option for 1 year, $18 million with $4 million buyouy

Shota Imanaga, LHP, Chicago Cubs

• Age: 32
• 2025 stats: 25 starts, 144.2 IP, 3.73 ERA, 0.988 WHIP, 117 SO, 26 BB
• Previous average annual salary: $13.25 million
• Status: Club option for 3 years, $57 million (if declined, Imanaga receives player option for 1 year, $15 million)

Kenley Jansen, RHP, Los Angeles Angels

• Age: 38
• 2025 stats: 62 appearances, 59 IP, 2.59 ERA, 0.949 WHIP, 57 SO, 19 BB, 29-for-30 in save chances
• Previous average annual salary: $10 million
• Status: Free agent

Merrill Kelly, RHP, Texas Rangers

• Age: 37
• 2025 stats: 32 starts, 184 IP, 3.52 ERA, 1.114 WHIP, 167 SO, 48 BB
• Previous average annual salary: $9 million
• Status: Free agent

Michael King, RHP, San Diego Padres

• Age: 30
• 2025 stats: 15 starts, 73.1 IP, 3.44 ERA, 1.200 WHIP, 76 SO, 26 BB
• Previous average annual salary: $7.75 million
• Status: Mutual option for 1 year, $15 million with $3.75 million buyout

Ramón Laureano, OF, San Diego Padres

• Age: 31
• 2025 stats: 132 games, .281/.342/.512 slash line, 24 HR, 76 RBI, 7 SB
• Previous average annual salary: $4 million
• Status: Club option for 1 year, $6.5 million

Brandon Lowe, 2B/OF, Tampa Bay Rays

• Age: 31
• 2025 stats: 134 games, .256/.307/.477 slash line, 31 HR, 83 RBI, 3 SB
• Previous average annual salary: $4 million
• Status: Club option for 1 year, $11.5 million with $1 million buyout

Nick Martinez, RHP, Cincinnati Reds

• Age: 35
• 2025 stats: 40 appearances (26 starts), 165.2 IP, 4.45 ERA, 1.207 WHIP, 116 SO, 42 BB
• Previous average annual salary: $21.05 million
• Status: Free agent

Yoan Moncada, 3B, Los Angeles Angels

• Age: 30
• 2025 stats: 84 games, .234/.336/.448 slash line, 12 HR, 35 RBI, 0 SB
• Previous average annual salary: $14 million
• Status: Free agent

Max Muncy, 3B, Los Angeles Dodgers

• Age: 35
• 2025 stats: 100 games, .243/.376/.470 slash line, 19 HR, 67 RBI, 4 SB
• Previous average annual salary: $12 million
• Status: Club option for 1 year, $10 million

Andrés Muñoz, RHP, Seattle Mariners

• Age: 26
• 2025 stats: 64 games, 62.1 IP, 1.73 ERA, 1.027 WHIP, 83 SO, 28 BB, 38-for-45 in save chances
• Previous average annual salary: $1.87 million
• Status: Club option for 1 year, $7 million (followed by club options for $8 million in 2027 and for $10 million in 2028)

Josh Naylor, 1B, Seattle Mariners

• Age: 28
• 2025 stats: 147 games, .295/.353/.462 slash line, 20 HR, 92 RBI, 30 SB
• Previous average annual salary: $14.2 million
• Status: Free agent

Ryan O’Hearn, 1B/OF, San Diego Padres

• Age: 32
• 2025 stats: 144 games, .281/.366/.437 slash line, 17 HR, 63 RBI, 3 SB
• Previous average annual salary: $3.5 million
• Status: Free agent

Marcell Ozuna, DH, Atlanta Braves

• Age: 34 (turns 35 in November)
• 2025 stats: 145 games, .232/.355/.400 slash line, 21 HR, 68 RBI, 0 SB
• Previous average annual salary: $16.25 million
• Status: Free agent

Emilio Pagán, RHP, Cincinnati Reds

• Age: 34
• 2025 stats: 70 appearances, 68.2 IP, 2.88 ERA, 0.917 WHIP, 81 SO, 22 BB, 32-for-38 in save chances
• Previous average annual salary: $8 million
• Status: Free agent

Freddy Peralta, RHP, Milwaukee Brewers

• Age: 29
• 2025 stats: 33 starts, 176.2 IP, 2.70 ERA, 1.075 WHIP, 204 SO, 66 BB
• Previous average annual salary: $3.1 million
• Status: Club option for 1 year, $8 million

Salvador Perez, C, Kansas City Royals

• Age: 35
• 2025 stats: 155 games, .236/.284/.446 slash line, 30 HR, 100 RBI, 0 SB
• Previous average annual salary: $20.5 million
• Status: Club option for 1 year, $13.5 million with $2 million buyout

Jorge Polanco, INF, Seattle Mariners

• Age: 32
• 2025 stats: 138 games, .265/.326/.495 slash line, 26 HR, 78 RBI, 6 SB
• Previous average annual salary: $7.75 million
• Status: Player option for 1 year, $8 million

Jose Quintana, LHP, Milwaukee Brewers

• Age: 36
• 2025 stats: 24 starts, 131.2 IP, 3.96 ERA, 1.291 WHIP, 89 SO, 50 BB
• Previous average annual salary: $4 million
• Status: Mutual option for 1 year, $15 million with $2 million buyout

J.T. Realmuto, C, Philadelphia Phillies

• Age: 34
• 2025 stats: 134 games, .257/.315/.384 slash line, 12 HR, 52 RBI, 8 SB
• Previous average annual salary: $23.1 million
• Status: Free agent

Luis Robert Jr., OF, Chicago White Sox

• Age: 28
• 2025 stats: 110 games, .223/.297/.364 slash line, 14 HR, 53 RBI, 33 SB
• Previous average annual salary: $8.33 million
• Status: Club option for 1 year, $20 million with $2 million buyout (followed by $20 million club option in 2027 with $2 million buyout)

Chris Sale, LHP, Atlanta Braves

• Age: 36
• 2025 stats: 20 starts (21 appearances), 125.2 IP, 2.58 ERA, 1.066 WHIP, 165 SO, 32 BB
• Previous average annual salary: $19 million
• Status: Club option for 1 year, $18 million

Max Scherzer, RHP, Toronto Blue Jays

• Age: 41
• 2025 stats: 17 starts, 85 IP, 5.19 ERA, 1.294 WHIP, 82 SO, 23 BB
• Previous average annual salary: $15.5 million
• Status: Free agent

Kyle Schwarber, DH, Philadelphia Phillies

• Age: 32
• 2025 stats: 162 games, .240/.365/.563 slash line, 56 HR, 132 RBI, 10 SB
• Previous average annual salary: $19.75 million
• Status: Free agent

Trevor Story, SS, Boston Red Sox

• Age: 32 (turns 33 in November)
• 2025 stats: 157 games, .263/.308/.433 slash line, 25 HR, 96 RBI, 31 SB
• Previous average annual salary: $23.33 million
• Status: Player option for 2 years, $50 million (followed by $25 million club option in 2028 with $5 million buyout)

Eugenio Suárez, 3B, Seattle Mariners

• Age: 34
• 2025 stats: 159 games, .228/.298/.526 slash line, 49 HR, 118 RBI, 4 SB
• Previous average annual salary: $9.42 million
• Status: Free agent

Ranger Suárez, LHP, Philadelphia Phillies

• Age: 30
• 2025 stats: 26 starts, 157.1 IP, 3.20 ERA, 1.220 WHIP, 151 SO, 38 BB
• Previous average annual salary: $11.3 million
• Status: Free agent

Robert Suarez, RHP, San Diego Padres

• Age: 34
• 2025 stats: 70 appearances, 69.2 IP, 2.97 ERA, 0.904 WHIP, 75 SO, 16 BB, 40-for-45 in save chances
• Previous average annual salary: $9.2 million
• Status: Free agent (declined player option for 2 years, $16 million)

Gleyber Torres, 2B/SS, Detroit Tigers

• Age: 28 (turns 29 in December)
• 2025 stats: 145 games, .256/.358/.387 slash line, 16 HR, 74 RBI, 4 SB
• Previous average annual salary: $15 million
• Status: Free agent

Kyle Tucker, OF, Chicago Cubs

• Age: 28
• 2025 stats: 136 games, .266/.377/.464 slash line, 22 HR, 73 RBI, 25 SB
• Previous average annual salary: $16.7 million
• Status: Free agent

Framber Valdez, LHP, Houston Astros

• Age: 31 (turns 32 in November)
• 2025 stats: 31 starts, 192 IP, 3.66 ERA, 1.245 WHIP, 187 SO, 68 BB
• Previous average annual salary: $18.8 million
• Status: Free agent

Justin Verlander, RHP, San Francisco Giants

• Age: 42
• 2025 stats: 29 starts, 152 IP, 3.85 ERA, 1.362 WHIP, 137 SO, 52 BB
• Previous average annual salary: $15 million
• Status: Free agent

Devin Williams, RHP, New York Yankees

• Age: 31
• 2025 stats: 67 games, 62 IP, 4.79 ERA, 1.129 WHIP, 90 SO, 25 BB, 18-for-22 in save chances
• Previous average annual salary: $7.25 million
• Status: Free agent

Brandon Woodruff, RHP, Milwaukee Brewers

• Age: 32
• 2025 stats: 12 starts, 64.2 IP, 3.20 ERA, 0.912 WHIP, 83 SO, 14 BB
• Previous average annual salary: $8.75 million
• Status: Mutual option for 1 year, $20 million with $10 million buyout

Mike Yastrzemski, OF, Kansas City Royals

• Age: 35
• 2025 stats: 146 games, .233/.333/.403 slash line, 17 HR, 46 RBI, 7 SB
• Previous average annual salary: $9.25 million
• Status: Free agent

Editor’s note: The original version of this story was published on Oct. 27.