Pena, who spent four seasons with the Rays before jumping to the Chicago Cubs as a free agent last year, was lured back to Tampa by a one-year deal worth $7.5 million, according to a report on the team's website.

The 33-year-old slugger, who has also had stints with the Texas Rangers, Oakland Athletics, Detroit Tigers and Boston Red Sox, enjoyed his best seasons in a Tampa uniform smashing a career high 46 homers and 121 RBIs in 2007.

Last season with the Cubs, Pena had 28 home runs and 80 RBI.

Peralta avoided arbitration after accepting a one-year deal worth $2.175 million.

The right-handed reliever made 71 appearances for the Rays last season posting a 3-4 record with a 2.93 ERA.

(Reporting by Steve Keating in Toronto; editing by Julian Linden)