ESPNDallas.com reports that the deal is worth $25 million per season for five years.
The Angels has been active this offseason, sending pitcher Ervin Santana to the Kansas City Royals, and declining the option for pitcher Dan Haren. They signed pitchers Joe Blanton and reliever Sean Burnett. Last week, they missed out on pitcher Zack Greinke, who left the Angels to sign with the Los Angeles Dodgers.
Hamilton's former team had been trying to resign their All-Star. He had reportedly also met with the Seattle Mariners at the winter meetings.