The New York Yankees and left-hander Andy Pettitte have reached an agreement on a one-year, $12 million contract, reports Ken Davidoff of the New York Post:

@kendavidoff The #Yankees and Andy Pettitte have completed a one-year contract for $12 million.

— Ken Davidoff (@KenDavidoff) November 28, 2012

It was reported yesterday that the Yankees had hopes of re-signing Pettitte by the end of this week. While no agreement was made official, it was also reported that Pettitte had committed to return to pitch in 2013.

After retiring following the 2010 season, Pettitte signed with the Yankees last spring. He pitched extremely well after joining the club, but he was forced to miss a majority of the season due to injury. Over 12 starts spanning 75 1/3 innings he maintained an ERA of 2.87 with 8.2 strikeouts and 2.5 walks per nine innings.

Pettitte, 40, owns a career ERA of 3.86 over 17 seasons at the major league level.

New York has also re-signed veteran right-hander Hiroki Kuroda this offseason, and he and Pettitte will join C.C. Sabathia atop the Yankees’ 2013 rotation.