Luis Severino and the New York Yankees have avoided arbitration by coming to a long-term agreement.

The New York Post's Joel Sherman reports that the club has signed the 24-year-old hurler to a four-year extension worth $40 million with an option.

ESPN's Jeff Passan reports that the option is a club option for $15 million with a $2.75 million buyout.

Severino had a breakout year in 2018, posting a 19-8 mark in 32 starts with an earned run average of 3.39 and 1.145 WHIP over 191.0 innings pitched.

A native of Sabana de la Mar, Dominican Republic, Severino is heading into his fifth MLB season.

A two-time All-Star, Severino has a career mark of 41-25 in 96 games with an ERA of 3.51 and WHIP of 1.154 over 518.0 IP. He has one career save.